The issuance of CBDCs and a possible acceptance by the FED(US Federal Reserve) to a possible Digital Dollar, was spotted in the tabloids dedicated to crypto and Blockchain news last week and, the FED Chairman admitted this week, that the imminent release of a global stablecoin by Facebook, gave it an impulse.
The Facebook project, Libra Global Stablecoin, and the issuance of a digital Yuan by the Chinese Government, that could be released this year and having two Chinese cities as a "testers" before it goes official Live in the Mao Tse Tung Country, of course was a " lit to the fire" that leaded the Federal Reserve to research more about issuance of a digital Dollar!
The Chairman admitted it on a meeting in the House of Representatives , where was asked about the Developments on the field, that he said, "that they are working hard to get more knowledge and advantages to implement a digital dollar", but for now it still in early age of the project and most important, still on studies not yet in the development Phase.
I particularly believe that the FED, with their partners Central Banks are researching a lot to see how the issuance of a CBDCcould help the Dollar to continues be the world major and well known currency and also as a way of fast payments, secure, fast and highly effective, and using Blockchain Technology that could easily be reached.
China researching in the CBDCsfield, initiated long ago in 2014 and if the western Countries like US and The major partner UK, wanna be in the lead, must overcome all this, and embrace the Blockchain with specific rules for Development, and issue their currencies in the digital format, that will bring more innovative ways of payment to the Dollar!
The world is going Blockchain and that threat from a "Global Stablecoin" project leaded by Facebook only proves that something new is needed as a way of global payments, SWIFT systems are becoming obsolete and very Expensive.
Republished Article Original found at Uptrennd Platform From My Authorship Here.
