I must admit I have found it interesting for some time now all the talk about the US possibly launching a CBDC for one huge reason. The Federal Reserve has had a CBDC investigative program called Project Hamilton that was launched in partnership with MIT in 2016! That was years and years before we ever heard or really worried about the idea. Once the public became more aware of the project (the Fed never hid it they just never really talked about it) people began to worry even more. Heads of the various Federal Reserve Banks were always quick to shut down the idea though and focused more on what they could learn from this. Several different heads went as far as to say that rather than create this whole new system and try to force implement it onto people why don't we just take some of the ideas and implement them? This crazy idea led to the creation of FedNOW which speeds up the time of a bank transaction for the 3-5 days to almost instantaneous. They just took the instantaneous payment idea from crypto and the blockchain and just added it to the existing tech and it worked like a charm! This further boosted the Federal Reserve in its belief that it was not going to need to create a CBDC and finally yesterday in front of the Senate Federal Reserve Chairman Jay Powell FINALLY said just that. In his words, the Federal Reserve isn't "remotely close" to issuing that and I think everyone can finally breathe a sigh of relief because Congress is not going to force them to do so as seen with numerous Republican-introduced and advanced legislation.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
BlazeStake
Have SOL you want an easy place stake and also be eligible for upcoming airdrops? Use my referral link here and join the protocol to be able to claim your portion of upcoming airdrops!
Stacker News
Earn Sats on your posts on Stacker News with my referral link here!
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 20,000 sats for free!
Robinhood
Robinhood is offering an excellent signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award! With commission-free crypto trading and the ability to set limit orders, it is a great hybrid offering in my opinion! Not to forget the addition of wallets and the ability to send and receive crypto!
Unstoppable Domains
Sign up using my link here and get a free $10 credit towards your first $40+ purchase!
