#10 | The Fed is Finally Diving Deep into Digital Currency Technology

in LeoFinance •  4 months ago 

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Chairman of the Federal Reserve, Jerome Powell gave a testimony yesterday and during the questioning section, was asked about the Fed’s plans for digital currency in light of China, Libra and other countries and corporations making headway on implementing various systems.

The Chairman had a fair amount to say about digital currencies, saying that the fed is “taking a deep look” at digital currency.

It’s very early stages and there is not going to be any sort of fedcoin anytime soon, but the chairman did have quite a bit to say about privacy and the importance of thoroughly investigating these technologies.

In this podcast episode, I dive into the brief discussion of digital currencies and my opinions about how this (and other similar) conversation(s) impact Bitcoin and cryptocurrencies as a whole.

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I think another move for digital currency has been how ineffective international trade has become with so much having to go through the new york fed and the weaponisation of SWIFT has other nations looking for ways around it and ways to trade outside the dollar.

I think these currencies won't be for the people and more for nation-states to trade

That's definitely an interesting possibility. The main thing I see going on here is the creation of new tools & options which, in my opinion, is always a great thing for the bottom of the line consumers.

I hope to see the trend continue as we see more cryptos (and potentially these CBDCs) coming into existence and infrastructure is built to handle them as well.

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they have seen or heard so many good benefits they can get via using digital currencies so they are thinking of exploring it i guess..

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Soon, we'll see the top products brands from all countries of the world join crypto soon as the current market trends is making a difference in their very eyes.

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