alanajoy's avatar
alanajoy alanajoy@alanajoy.com 2 years ago
If we do end up in a hyperinflation scenario, I wonder if the US government won’t use that as an entry point to usher in CBDC’s by way of UBI giving the false impression of increased personal stability while reducing us to a coupon form of money that requires us to trade our freedom in unprecedented ways.

Replies (19)

alanajoy's avatar
alanajoy alanajoy@alanajoy.com 2 years ago
You won’t have to go anywhere, just like we didn’t have to go anywhere in order to get Covid checks. You will merely need to claim your free money with sort of a form online and a card will be sent to you.
1 replies ↓
Gary ₿usey's avatar
Gary ₿usey garybusey@ok0.org 2 years ago
That's perfectly possible. And I doubt we'll need to fill out some form or anything like that. I can imagine it will be some kind of automatic conversion where all the dollars in your bank account will be turned in to a USDC.
2 replies ↓
MadGrowr's avatar
MadGrowr madgrowr@getalby.com 2 years ago
Myanmar scenario was like that but the tech chosen for the CBDC couldn’t deliver, mostly speed wise. I think the requirement was to be able to “airdrop” money to the population almost at the same time and the centralized ledger solution couldn’t deliver. So they went to USDT.
Cointelegraph: Bitcoin, Ethereum, Crypto News & Price Indexes
The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
1 replies ↓
MadGrowr's avatar
MadGrowr madgrowr@getalby.com 2 years ago
And guess who was leading the initiative for “interoperability” between mobile money and micro finance in Myanmar? A project created by notorious Bill and Melinda Gates Foundation, called Mojaloop.
RFA: Enabling interoperability for low-income people in Myanmar: Building a production grade Mojaloop Integration Platform to facilitate a COVID-19 response
‘Enabling interoperability for low-income people in Myanmar: Building a production grade Mojaloop Integration Platform to facilitate a COVID-19 r...
1 replies ↓
MadGrowr's avatar
MadGrowr madgrowr@getalby.com 2 years ago
Now we are getting to the saucy part. FEDNow. The Federal Reserve Instant payment solution is tightly working with PortX and Modusbox. When I was still working as a contractor for Modusbox in 2018 they were in a meeting with FED.
Portx.io
FedNow Early Adopters Are Enabling Instant Payments Innovation With the Federal Reserve
We recently participated in the FedNow early adopter workshop. The goal of the two-day event was to accelerate connected financial institutions’ ...
1 replies ↓
MadGrowr's avatar
MadGrowr madgrowr@getalby.com 2 years ago
And let me close the circle with the CBDCs. Mojaloop became separate foundation during Covid for lots of reasons. But are still dependent and influenced by BMF. Also some of the Modusbox employees started working at Mojaloop foundation when Modusbox was struggling financially. Recently they opened a CBDC center of excellence.
Mojaloop
Mojaloop Foundation Launches the Mojaloop CBDC Center of Excellence in Singapore - Mojaloop
Mojaloop Foundation Launches the Mojaloop CBDC Center of Excellence in Singapore Initiative Brings Together the Fintech Ecosystem to Explore How C...
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