Fed Opens Service That Dramatically Speeds Up U.S. Payments
Some argue it would weaken crypto’s payments use case or form a bridge to a digital dollar.
Federal Reserve announces that its new system for instant payments, the FedNow® Service, is now live
"The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient," said Federal Reserve Chair Jerome H. Powell. "Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to instantly access funds when an invoice is paid."
But why now?
Officials including Powell have previously said the real-time payment network is needed to avoid having to depend on private sector alternatives, like the now abandoned stablecoin Diem (previously named Libra) by Marc Zuckerberg's Meta (previously Facebook) while some have seen it as a step towards a central bank digital currency.
need an enema of the state.
where's the KYC and AML here?
corporations - or puppet persons - have more rights than humans.
that is the con that is not being articulated.
open-mouth-syndrome
interestinger and interestinger...
cried Caitlin.
"having to depend on private sector alternatives"
huh?
but the Fed is a private racketeering org.
every agency has taken many decades to be captured - the Fed was captured from the start, by its very founding.
hah!
the enslavement is only possible by those psychoscum who are immune from the effects of truth.
amusing site
live app
https://threexrp.dev/
Wholesale CBDC Would Improve Cross-Border Payments, French Central Bank Tests Show
https://www.coindesk.com/policy/2023/07/21/wholesale-cbdc-would-improve-cross-border-payments-french-central-bank-tests-show/
Note, that as expected, and signalled by the IMF long ago, a CB would likely keep their CBDC wholesale and that the average prole would be issued with a wCBDC.
The Banque de France publishes a second report to share lessons learned from its wholesale CBDC experiments using distributed ledger technologies
https://www.banque-france.fr/en/communique-de-presse/banque-de-france-publishes-second-report-share-lessons-learned-its-wholesale-cbdc-experiments-using
with report download.
44 Countries Now Interested in Joining BRICS As Multipolar World Takes Shape: Report
https://dailyhodl.com/2023/07/24/44-countries-now-interested-in-joining-brics-as-multiploar-world-takes-shape-report/
At a summit next month, the main topic on the agenda will be how far and how fast to expand the coalition, which is currently only officially made up of Brasil, Russia, India, China and South Africa, but is now dealing with a large lineup of interested entities, including Argentina, Iran and Saudi Arabia.
A basket case?
silk road