by David Haggith, The Great Recession Blog:
For years, I’ve written about the creeping approach of central bank digital currencies (CBDCs) as a replacement for coin and paper money that will give government much deeper control over you. Now the time has arrived … IN THE US. Yesterday, The Federal Reserve Bank of New York published the following notice:
The Federal Reserve Bank of New York today announced that its New York Innovation Center (NYIC) will participate in a proof-of-concept project to explore the feasibility of an interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared multi-entity distributed ledger.
