CBDCs are created for unemployment purpose - page 2.

tread93

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Quote from: _act_ on September 06, 2023, 07:57:12 AM

We can see how traditional banking has helped in creating employment. Many people are employed in the banks. The banks and their employees are paying taxes.

I read this today: CBDCs will gradually displace private banks, says Russian lawmaker

It is about a Russian lawmaker that believes CBDCs will gradually displace fiat and traditional banking.

Can this be what would later happen?

Sadly they have already made the moves to downsize the banking locations for most all banks. Reduce the work force and replace them with automated tellers. Stopping acceptance of coins and issuing coins out in public and private banks as well has allowed banks to downsize and basically nearly reduce banks down to just a location with a few machines in them.

Marvell1

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Quote from: Uruhara on September 13, 2023, 07:20:39 PM

The launch of CBDC will not bring significant changes to the ordinary financial life of society. Likewise in terms of employment. And traditional banks will still be needed in the end. Because CBDC is just a digital form of Fiat. So of course there will still be a need for banks to manage customers and the like. But if we talk about the future then of course we don't know. Whether traditional banks will eventually disappear or not. But I believe CBDC will not replace regular fiat money. Both will exist side by side. so that Traditional Banks will also continue to exist. It's just that workers who understand Blockchain and cryptography are needed to work in managing the CBDC. So that job opportunities will increase in this case. Possible. Grin

As you said, CBDC is the digital version of fiat and it is just a unit used to measure and help us easily exchange goods with each other. It has no job creation function and we need to work to earn it as much money as possible so we cannot expect CBDC to change our financial situation. CBDC is currency, it is not a job and our mission is to still find ways to earn it every day.
Meanwhile, blockchain and cryptocurrency, one is technology, the other is financial market. So of course they will bring us jobs or profits. There is nothing comparable in this case.

Uruhara

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The launch of CBDC will not bring significant changes to the ordinary financial life of society. Likewise in terms of employment. And traditional banks will still be needed in the end. Because CBDC is just a digital form of Fiat. So of course there will still be a need for banks to manage customers and the like. But if we talk about the future then of course we don't know. Whether traditional banks will eventually disappear or not. But I believe CBDC will not replace regular fiat money. Both will exist side by side. so that Traditional Banks will also continue to exist. It's just that workers who understand Blockchain and cryptography are needed to work in managing the CBDC. So that job opportunities will increase in this case. Possible. Grin

suzanne5223

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The traditional banking has helped alot of people with jobs but also cut off alot of their staff after the issue of the pandemic happened. For the record, it was a cryptocurrency that paved the way for new job opportunities for alot of people during and after the pandemic.
Having said that, the CBDC may displace fiat currency but I don't see it as something that will generate jobs for the unemployed.
The statement made that CBDCs are created for unemployment purposes is a political scam.

safar1980

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Quote from: legendbtc on September 13, 2023, 05:43:23 AM

Quote from: Gozie51 on September 13, 2023, 05:15:19 AM

Quote from: 348Judah on September 12, 2023, 09:20:58 AM

Quote from: Mate2237 on September 12, 2023, 08:22:13 AM

Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

Government indeed could offer people with jobs and these same people are few in numbes working under a centralized commercial banks while bitcoin in cryptocurrency is providing employability for all and not for some, what the banks are also giving their workere is not up to what they are demanding from them, this is a normal way of reasonings a normal person should have as an approach with what they are offering.

The fact is that CBDC is the selfish agenda of government to work towards the control of the people and that seem as their major objective and not how to better the welfare of people. The blockchain and bitcoin technology put government on toe and they strive not to relinquish the hold they have for control through finance. The goal of CBDC is not different from the effect of AL, bots used in today's economy that has caused the drop of job opportunities. As we know, with cryptocurrency the people have found a survival rate that is higher than the traditional job system.

Let's ignore the issue of control, centralization or decentralization in this topic, because it is not the main content of the topic. But I wonder how CBDC can cause unemployment and how cryptocurrency creates a higher survival rate than traditional jobs? I think that when CBDC is born, it will also create new jobs and positions in the banking sector, employees will be trained and assigned new job tasks. As for cryptocurrency, it is a financial market, meaning when we invest there will be winners and losers, how can anyone get a stable income from it? The world is entering a digital world, old things need to be eliminated and new things will be created and that has been the rule of the world for thousands of years.

When I call a bank or Internet provider, AI bots answer me over the phone. To get through to an operator or get the AI to put you in a queue to talk to an operator, you need to listen to a lot of information and answer questions.
Therefore, if you have questions with your digital money, you will have to talk to the AI bot.

AmoreJaz

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Quote from: slapper on September 13, 2023, 08:56:23 AM

Quote from: legendbtc on September 13, 2023, 05:43:23 AM

Quote from: Gozie51 on September 13, 2023, 05:15:19 AM

~snip~

Let's ignore the issue of control, centralization or decentralization in this topic, because it is not the main content of the topic. But I wonder how CBDC can cause unemployment and how cryptocurrency creates a higher survival rate than traditional jobs? I think that when CBDC is born, it will also create new jobs and positions in the banking sector, employees will be trained and assigned new job tasks. As for cryptocurrency, it is a financial market, meaning when we invest there will be winners and losers, how can anyone get a stable income from it? The world is entering a digital world, old things need to be eliminated and new things will be created and that has been the rule of the world for thousands of years.

When a new financial product is added, infrastructure changes usually follow. CBDCs may create new jobs but also eliminate outmoded ones, especially transaction-related ones. Technology is so powerful that we can't stop employment loss and creation. Strangely, cryptocurrency can provide reliable income. You are right: it's primarily business. But its ecosystem (crypto mining, trading platforms, and digital wallets) creates jobs. Job opportunities in the crypto business are great, even though crypto investment returns are volatile

As you mentioned, old will give way to new. But what's really interesting is that this change is happening at a rate that has never been seen before in history. Rapid change brings opportunities and challenges.

in every technological advancement, there will be jobs that will become obsolete, but there will be new jobs created out of it. so it is not totally true that it will create unemployment, rather there will be shift in terms of job titles here. the process may be automated, but somewhere along the way, it will need human intervention to hasten the introduction of new technological advancements.

Wiwo

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Quote from: Gozie51 on September 13, 2023, 05:15:19 AM

Quote from: 348Judah on September 12, 2023, 09:20:58 AM

Quote from: Mate2237 on September 12, 2023, 08:22:13 AM

Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

Government indeed could offer people with jobs and these same people are few in numbes working under a centralized commercial banks while bitcoin in cryptocurrency is providing employability for all and not for some, what the banks are also giving their workere is not up to what they are demanding from them, this is a normal way of reasonings a normal person should have as an approach with what they are offering.

The fact is that CBDC is the selfish agenda of government to work towards the control of the people and that seem as their major objective and not how to better the welfare of people. The blockchain and bitcoin technology put government on toe and they strive not to relinquish the hold they have for control through finance. The goal of CBDC is not different from the effect of AL, bots used in today's economy that has caused the drop of job opportunities. As we know, with cryptocurrency the people have found a survival rate that is higher than the traditional job system.

I think aside from CBDC being the selfish agenda of government, it seems to me that there is more that in terms of money laundering by the government and it officials such as the CBN governor, because in most cases of CBDC development, the central banks are behind it and we all know how heavily corupted those banks officials are in helping politicians to move money and starch it always for there selfish reasons.

I still remember the case of the central bank governor in my country who developed the country CBDC which he called digital e-naira, he alone supervised that poor currency development with a lot of weaknesses that only served the needs of those corrupt leaders against the will of the people.

Currently, the same CBN governor is facing charges with the government over other criminal involvement such as arms dealing and all those arms were founded through such CBDC development and usage within the elits.

slapper

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Quote from: legendbtc on September 13, 2023, 05:43:23 AM

Quote from: Gozie51 on September 13, 2023, 05:15:19 AM

~snip~

Let's ignore the issue of control, centralization or decentralization in this topic, because it is not the main content of the topic. But I wonder how CBDC can cause unemployment and how cryptocurrency creates a higher survival rate than traditional jobs? I think that when CBDC is born, it will also create new jobs and positions in the banking sector, employees will be trained and assigned new job tasks. As for cryptocurrency, it is a financial market, meaning when we invest there will be winners and losers, how can anyone get a stable income from it? The world is entering a digital world, old things need to be eliminated and new things will be created and that has been the rule of the world for thousands of years.

When a new financial product is added, infrastructure changes usually follow. CBDCs may create new jobs but also eliminate outmoded ones, especially transaction-related ones. Technology is so powerful that we can't stop employment loss and creation. Strangely, cryptocurrency can provide reliable income. You are right: it's primarily business. But its ecosystem (crypto mining, trading platforms, and digital wallets) creates jobs. Job opportunities in the crypto business are great, even though crypto investment returns are volatile

As you mentioned, old will give way to new. But what's really interesting is that this change is happening at a rate that has never been seen before in history. Rapid change brings opportunities and challenges.

Inwestour

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Quote from: davis196 on September 13, 2023, 05:52:34 AM

Traditional banking helped in creating employment not because many people are employed in the banks. It helped in creating more jobs because fractional reserve banking created artificial capital and the banking system provided affordable loans for the businesses.
I don't believe that CBDCs will gradually displace private banks because somebody still has to evaluate which people and business are suitable
for getting a loan and which ones aren't. I don't think that AI is capable in replacing the humans, when it comes to such evaluation.
CBDCs are created to be an addition to the fiat banking system, not to replace it.

How do you think CBDCs can help with unemployment?

It seems to me that CBDCs were created specifically to replace the existing fiat system, this will be a kind of reboot of the old system into a new one. But I also do not believe that CBDC is capable of destroying the entire existing system of commercial banks, and I also do not believe that with the introduction of CBDC, lending will become impossible for the population, so the banking system may be modified, but this should not lead to the dismissal of everyone employees, there will be some kind of restructuring.

davis196

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Quote from: _act_ on September 06, 2023, 07:57:12 AM

We can see how traditional banking has helped in creating employment. Many people are employed in the banks. The banks and their employees are paying taxes.

I read this today: CBDCs will gradually displace private banks, says Russian lawmaker

It is about a Russian lawmaker that believes CBDCs will gradually displace fiat and traditional banking.

Can this be what would later happen?

Traditional banking helped in creating employment not because many people are employed in the banks. It helped in creating more jobs because fractional reserve banking created artificial capital and the banking system provided affordable loans for the businesses.
I don't believe that CBDCs will gradually displace private banks because somebody still has to evaluate which people and business are suitable
for getting a loan and which ones aren't. I don't think that AI is capable in replacing the humans, when it comes to such evaluation.
CBDCs are created to be an addition to the fiat banking system, not to replace it.

legendbtc

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Quote from: Gozie51 on September 13, 2023, 05:15:19 AM

Quote from: 348Judah on September 12, 2023, 09:20:58 AM

Quote from: Mate2237 on September 12, 2023, 08:22:13 AM

Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

Government indeed could offer people with jobs and these same people are few in numbes working under a centralized commercial banks while bitcoin in cryptocurrency is providing employability for all and not for some, what the banks are also giving their workere is not up to what they are demanding from them, this is a normal way of reasonings a normal person should have as an approach with what they are offering.

The fact is that CBDC is the selfish agenda of government to work towards the control of the people and that seem as their major objective and not how to better the welfare of people. The blockchain and bitcoin technology put government on toe and they strive not to relinquish the hold they have for control through finance. The goal of CBDC is not different from the effect of AL, bots used in today's economy that has caused the drop of job opportunities. As we know, with cryptocurrency the people have found a survival rate that is higher than the traditional job system.

Let's ignore the issue of control, centralization or decentralization in this topic, because it is not the main content of the topic. But I wonder how CBDC can cause unemployment and how cryptocurrency creates a higher survival rate than traditional jobs? I think that when CBDC is born, it will also create new jobs and positions in the banking sector, employees will be trained and assigned new job tasks. As for cryptocurrency, it is a financial market, meaning when we invest there will be winners and losers, how can anyone get a stable income from it? The world is entering a digital world, old things need to be eliminated and new things will be created and that has been the rule of the world for thousands of years.

Gozie51

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Quote from: 348Judah on September 12, 2023, 09:20:58 AM

Quote from: Mate2237 on September 12, 2023, 08:22:13 AM

Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

Government indeed could offer people with jobs and these same people are few in numbes working under a centralized commercial banks while bitcoin in cryptocurrency is providing employability for all and not for some, what the banks are also giving their workere is not up to what they are demanding from them, this is a normal way of reasonings a normal person should have as an approach with what they are offering.

The fact is that CBDC is the selfish agenda of government to work towards the control of the people and that seem as their major objective and not how to better the welfare of people. The blockchain and bitcoin technology put government on toe and they strive not to relinquish the hold they have for control through finance. The goal of CBDC is not different from the effect of AL, bots used in today's economy that has caused the drop of job opportunities. As we know, with cryptocurrency the people have found a survival rate that is higher than the traditional job system.

fruktik

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Quote from: Silberman on September 12, 2023, 11:44:54 PM

It is really that simple, politicians more than anything want more power and they see on those CBDCs a way to concentrate more power on the government, however with bitcoin still around it is going to be difficult for them to achieve their dream, also with the economy in such a bad shape it is just a matter of time until the system collapses, and once it does they may try to force their new CBDCs upon an ignorant population, but those that understand what is going on will refuse to adopt them and they will adopt bitcoin instead.

Are you sure that people will be given such a choice? I have doubts about this. When did this happen? “Managers,” of course, can explain this by caring for citizens and everyone will clap their hands together with such joy and begin to experience an orgasm due to the fact that the government takes care of them and does everything only well.
We have already heard such tales many times, but things are still there. Nothing like that will happen.
What about Bitcoin? Is this a panacea? No not like this. In my country it is even prohibited to use it as a means of payment. How do you imagine people using it in everyday life? Will they really break the law? This is all nonsense.
Something drastic has to happen. Something that will change the current financial paradigm. Will put her in doubt. Although with the latter everything is already very clear. Only a very small number of citizens understand this. They are more accustomed to existing as it is at the moment and not changing anything. Incredible conservatism that is difficult to change.

Silberman

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Quote from: fruktik on September 12, 2023, 02:41:45 AM

Quote from: Ever-young on September 07, 2023, 01:14:26 PM

Displace fiat and traditional banking you mean? What is the different from CBDC and the normal fait system ?
The traditional means of banking has being moved into digital before the launch and introduction of CBDC, which one can make their transactions and execute it without even working straight to the bank everything can be done only, likewise the CBDC they need make use of internet in other for them to be able to complete a single transaction, so how will that make any much of a difference and how will people divert from using their normal banking service which they understand much more better and start using CBDC or is their any form of low to zero fee tolerant for those who are to make use of CBDC

Everything is much more banal and prosaic than you think. All this digital money helps to tighten control over the financial flows of citizens. Only these “managers” never admit this: “Everything is for the benefit of the people.”
This doesn't surprise me at all, to be honest. One of the reports said this directly, but then they began to deny it. It's already late. You can't take back your words. From that moment on I have no doubts about this.

It is really that simple, politicians more than anything want more power and they see on those CBDCs a way to concentrate more power on the government, however with bitcoin still around it is going to be difficult for them to achieve their dream, also with the economy in such a bad shape it is just a matter of time until the system collapses, and once it does they may try to force their new CBDCs upon an ignorant population, but those that understand what is going on will refuse to adopt them and they will adopt bitcoin instead.

khiholangkang

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Quote from: jaberwock on September 12, 2023, 06:40:15 AM

Quote from: _act_ on September 06, 2023, 07:57:12 AM

We can see how traditional banking has helped in creating employment. Many people are employed in the banks. The banks and their employees are paying taxes.

I read this today: CBDCs will gradually displace private banks, says Russian lawmaker

It is about a Russian lawmaker that believes CBDCs will gradually displace fiat and traditional banking.

Can this be what would later happen?

I doubt that banks really care about that at all, plus I agree that there will still be workers. It's obvious that they are not doing it just for this purpose and people are just overreacting about it. I think it is going to be fine and nothing will change.

I mean like literally absolutely nothing will change. I get that some people like to create FUD and think that tens of thousands of people even hundreds of thousands of people will be unemployed because of it, but it will not be like that, I doubt that very much. Banks always need people to work there, otherwise it will not work, even nowadays online banks are hiring so many people, because most workers work behind the scenes and are not tellers for you to talk to.

They will only reduce their workforce from field or branch operations, and focus more on security and services via the internet network. I agree that the presence of CBDC will not eliminate traditional workers directly, this will be gradual and of course they will also be fired You will also be able to adapt and look for a new place of work, that's more likely in my opinion, than thinking so wildly that it makes people unemployed.

Even if they do experience unemployment, I think the government will not just let unemployment go by, and things like this will definitely take into account all the consequences, so we don't need to worry, maybe there will be other industries for them to get work.

gunhell16

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Arguably, CBDCs could potentially be the future of payments, and it will be interesting to see how the market develops as more central banks begin to explore and adopt this technology. It has the potential to revolutionize the world of finance by providing a more efficient, secure and transparent digital currency.

I just think that CBDC is no different from the traditional banks that we are used to. Because it will still be manipulated by the government, according to my understanding. Let's say that the bank belongs to the financial institution and the CBDC is from the issuing central bank.

Not all central banks are independent because there are other central banks that are controlled by the government, and in central banks that are independent, they are not controlled by the government, but the government has influence to make the central bank follow what they want to happen, and when that happens, of course, that means the CBDC is still controlled by the government because the government has a strong influence on the central bank.

And I beg to disagree that CBDC was created for unemployment I don't think so in my own opinion, they might hire others but it will
be limited only for sure.

348Judah

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Quote from: Mate2237 on September 12, 2023, 08:22:13 AM

Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

Government indeed could offer people with jobs and these same people are few in numbes working under a centralized commercial banks while bitcoin in cryptocurrency is providing employability for all and not for some, what the banks are also giving their workers is not up to what they are demanding from them, this is a normal way of reasonings a normal person should have as an approach with what they are offering.

Mate2237

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Yes the traditional employed people but it could not elevate those workers from the poverty line. They are bank workers but their lives were the same with the peasants. It is only the management team in the banking system that live well and enjoy life. CBDC will remove mass employment from workers because it doesn't have or increase economic growth or value to users. I don't think there any benefit in CBDC.

But bitcoin which is a digital currency has a lot of benefits. Well CBDC can work hand in hand with bitcoin to make itself valuable for people to use frequently.

jaberwock

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Quote from: _act_ on September 06, 2023, 07:57:12 AM

We can see how traditional banking has helped in creating employment. Many people are employed in the banks. The banks and their employees are paying taxes.

I read this today: CBDCs will gradually displace private banks, says Russian lawmaker

It is about a Russian lawmaker that believes CBDCs will gradually displace fiat and traditional banking.

Can this be what would later happen?

I doubt that banks really care about that at all, plus I agree that there will still be workers. It's obvious that they are not doing it just for this purpose and people are just overreacting about it. I think it is going to be fine and nothing will change.

I mean like literally absolutely nothing will change. I get that some people like to create FUD and think that tens of thousands of people even hundreds of thousands of people will be unemployed because of it, but it will not be like that, I doubt that very much. Banks always need people to work there, otherwise it will not work, even nowadays online banks are hiring so many people, because most workers work behind the scenes and are not tellers for you to talk to.

Negotiation

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At this stage the use of CBDC is not very high normal digital payment systems cannot achieve anything that a CBDC can. But with the introduction of stablecoins this has largely changed but CBDC will take that space into competition with its innovative model. It will appear to users like any other digital payment service but since the CBDC will be a direct liability of the central bank it will be more secure and will not rely on any defaults while routing money through bank deposits. The market has become uneasy this is why central banks are taking CBDC as a defense tool against central banks becoming the sole issuer of currency.

Topic: CBDCs are created for unemployment purpose - page 2. (Read 613 times)