Governments around the world racing to issue Digital Currency

[ynot2k]

You are singing to the choir, Snake, and I am in that choir. Good post.

I too like SnakeEater's posts, always have...

they may not always be "pretty" but they always make the point very very well.

[golditiki2]

digital currency is just newspeak for the old same fiat, it is just another form pleasing to the younger compuer generation. The advantage is MAYBE they will be able to get rid of the obsolete and archaïc, cumbersome costly tax system which incites everybody to try to escape it.
A digital system could allow the central banks to dole out the necessary funds directly to the governments, as an x percent of the total moneyturnover.

Golditiki2+++

[redraspberry]

Is digital currency any good without internet?

[ynot2k]

Is digital currency any good without internet?

I googled similar question regarding the SWIFT system since it is likely that CBDC will operate on a same type network infrastructure.

The answer that came in the results is the SWIFT system operates separately from the internet on it's own private network that is run and maintained by SWIFT operating multiple levels of redundancy and fail over.

The answer went on to say "It's [SWIFT's] core function is to provide a secure and reliable transmission infrastructure between banks."

I would take from this that CBDCs will not require the internet to function.

But what do I know? I'm not in the club and don't have access to the factual informaiton.

[redraspberry]

I googled similar question regarding the SWIFT system since it is likely that CBDC will operate on a same type network infrastructure.

The answer that came in the results is the SWIFT system operates separately from the internet on it's own private network that is run and maintained by SWIFT operating multiple levels of redundancy and fail over.

The answer went on to say "It's [SWIFT's] core function is to provide a secure and reliable transmission infrastructure between banks."

I would take from this that CBDCs will not require the internet to function.

But what do I know? I'm not in the club and don't have access to the factual informaiton.

That's probably true the actual players will have their own network. But what about every one else? We won't have access to the SWIFT network I wouldn't think. My internet is still shaky after all these years of high speed luxury coming. It's like the all electric future, controllable with a switch. Truly is digital/binary; on or off.

[ynot2k]

That's probably true the actual players will have their own network. But what about every one else? We won't have access to the SWIFT network I wouldn't think. My internet is still shaky after all these years of high speed luxury coming. It's like the all electric future, controllable with a switch. Truly is digital/binary; on or off.

I guess it depends on how we (are allowed/are required to) use CBDC.

Right now using a debit card (or credit card) at a store depends on the store having internet.

However I believe that ATMs do not use the internet, they (again) use a private network.

[redraspberry]

The gas pumps/cash registers around here are connected the internet and if that is down they can't even sell for cash.

[ynot2k]

Technology is one of our masters, for sure.

[yellowsnow]

it's jere already, just need some events to introduce CBDC

it's fully operational in china, in shezchen
https://twitter.com/i/status/1597282329181159425

Lindsey Williams: the name of the game is control

slavery was never gone after world wars, it's just gone high tech without using chains and whip

[yellowsnow]

CBDC progress around the world