Through central banking, the U.S. government has already demonstrated it has access to infinity money printing. If it launches a CBDC – central bank digital currency – what would that mean for the value of crypto assets?
Why Would a Digital Dollar Be Useful?
Have you ever wondered why you can make bank transfers via your banking app, but not outside of banking hours, including weekends? After all, the mobile app – and the internet – are working 24/7 just the same. To understand this is to understand the key difference between an electronic dollar (the dollar you access through your bank’s app) and a digital one (a CBDC). This helps us understand why the digital dollar would even be needed in the first place.
The banking app may have digitized your cash deposits, but the relationship between the Federal Reserve and commercial banks still works the same:
The Fed settles interbank payments, free of risk, thus ensuring liquidity and financial stability.
By providing accounts to
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