Usa new currency digital dollar soon - page 2.

avikz

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Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

Usa digital dollar is coming soon
The way to produce more currency it might be defi
Defi so yield farming will be new banking

Lol! Doesn't make sense at all! Before Digital USD, China will bring in Digital Yuan and it seems that digital economy is inevitable because it's cheaper and easy to monitor. Digital currencies will greatly help the government to monitor their citizen's finances. So eventually all countries will slowly move to digital infrastructure.

However, these CBDCs will not be classified as a Defi at all! There is no way a government will allow that to happen because they will loose control over their own currencies. So don't daydream, please!

DooMAD

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People seem to make a number of assumptions when it comes to Central Bank Digital Currencies. They may not utilise a blockchain at all. It's likely you won't be able to send them to exchanges or DeFi platforms. They would never grant you such freedom.

I highly doubt there will be anything remotely similar to yield farming in CBDCs. Or, at least, not for the likes of you and me anyway. The banksters themselves would have those kinds of privileges, naturally. Why would they share such profits with you? You're the product. You exist to make them money.

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Quote from: milesfull on January 11, 2021, 07:16:34 AM

they will use their own blockchain, for sure. And this is not good for crypto industry in general

In my opinion, the launch of a CBDC would not adversely affect the crypto industry, if anything it could be a positive as the public could see it as an endorsement of the blockchain if governments are utilizing it.
They'll also be targeting different markets; Bitcoin is mostly used an an investment, store of value and less as a currency (this could change in the future). A CBDC would ideally be a stable coin to serve as a digital form of fiat. Users of Bitcoin would hardly jump out simply cause there is a digital version of the cash in their pockets.

fiulpro

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Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

Usa digital dollar is coming soon
The way to produce more currency it might be defi
Defi so yield farming will be new banking

But won't this digital dollar be 1:1 with USD? This doesn't really matter if they start a new digital dollar and peg it in the market when the price of bitcoins and eth is rising more then ever.

But it's not just USA but many countries, so if they start this it won't be as simple as them giving out a currency which is digital there will also be a matter of :

Competition.

Quote from: milesfull on January 11, 2021, 07:16:34 AM

They will try to outperfom China in this. However, they will use their own blockchain, for sure. And this is not good for crypto industry in general

Completion is always good but what's not good is :
Them trying to use unfair means , they will try and ban Bitcoins and other cryptocurrencies which means that they will indirectly force people to use their digital dollar.

But what would happen for real ??
They still have to try and compete with the market at the same time taking care of the riots and COVID. This should be actually last in the line to care about.
-they need to first stabilize the country and keep the USD value normal by once and for all deciding the stimulus stop and try and make everything normal.

If a person is trying to achieve economic freedom why would they choose a digital currency owned by the government in the first place ?

sukmo

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Where did you get the news from? May I ask for a valid news link about USA will create a digital dollar.
If the news is true, then what are the latest developments about the news?

milesfull

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They will try to outperfom China in this. However, they will use their own blockchain, for sure. And this is not good for crypto industry in general

chrisculanag

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Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

Usa digital dollar is coming soon

I think this time USA dont focus about this instead they need to fight the COVID19 to recover in the pandemic. But if new government in USA supporting the digital dollar as a money online for purchasing some goods and other needs and also can help to decreasing the spreading the virus.

Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

The way to produce more currency it might be defi
Defi so yield farming will be new banking

I dont know much about DeFi or decentralised finance , the only know is that Defi are automated agreements that dont need intermediaries like a bank and use only online blockchain technology.

blockman

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Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

Usa digital dollar is coming soon

They have already it with the traditional payment processors like PayPal and with the use of credit cards. That's also considered as a digital dollar for me but maybe not for the others.

Quote from: OpenCryptoSystem on January 10, 2021, 02:49:51 PM

The way to produce more currency it might be defi
Defi so yield farming will be new banking

No, it won't be the yield farming. We have already through our wallets such as btc wallet addresses. It's the quote that has been used already before by blockchain wallet.

DooMAD

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Quote from: slapper on January 11, 2021, 03:44:58 AM

while Chinese CBDC is utilized to control citizens

There's no need to single out a particular nation. *Any* CBDC will be about control and surveillance. Governments wouldn't perceive them to be worth implementing otherwise.

slapper

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Stop blabbering. How can we have a digital dollar while we can't even have a peaceful atmosphere recently. Moreover, the USA can not even defeat COVID-19 like other countries. There must be a long way that needs to be walked before having a digital dollar. Right now, we can not even ensure who will become the next president. Whether Biden or Trump will be the next since the fighting between them is happening intensively

I believe that China will be the first country to implement CBDC in their system. Currently, they are testing this technology in many places. This is both bad and good news for us. We want the digital currency to give us freedom and anonymity while Chinese CBDC is utilized to control citizens

OpenCryptoSystem

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Usa digital dollar is coming soon
The way to produce more currency it might be defi
Defi so yield farming will be new banking

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