Post
Topic
Board Economics
Re: The Government-Backed Digital Dollar (USD)
by
jseverson
on 21/11/2019, 11:18:42 UTC
All these developments shows us that we're getting closer to a "cashless society" than we've thought.

The world is a lot closer to this than we think. Sweden and China are increasingly going cashless, and contrary to what most crypto enthusiasts think, it doesn't necessarily have to be done on the blockchain, or have anything to do with crypto at all.

If the US remains reluctant to accept Blockchain technology into its current monetary system, then it'll be left behind without a doubt.

This will only be true if a blockchain-based or crypto-like national currency would be as important as you project. As China and Sweden demonstrates, digital fiat is already a thing, which leads me to question the significance, and even use case, of a national crypto. We all know that China is challenging the US for global supremacy, and the fact that the US doesn't feel the need to announce a competitor to China's own crypto implies that they don't think it's important for the global race. China's own crypto could very well be just a tool to apply even more control on their citizens without any global use or impact whatsoever. Either way, all we can really do is wait and see.