What do y'all think about FedCoin? Government Digital Currency. Stored in Mobile App

[MadeWithLove]

Summary

Its a US government digital currency that has been rumored to be released for the past two years. Its similar to BitCoin, but FedCoin has an unlimited supply (they can just make more of them). It will replace the current USD (cash and the electronic money in our bank accounts).

 

Takeaways

• Not electronic dollars like how we have money on our debit card. This is more similar to BitCoin. Just like a piece of computer software, can be programmed.
• Starts with the Federal Reserve
• It will be accessible via mobile app
• All transactions are tracked. Every single one of them
• They can pre-program the type of loans the banks give out to the economy
• It will be encrypted
• Its programmed (software)
• They could guide spending of your money
• They would have control of the credit in the economy and who it's going to
• They have the OPTION  to enable a timer on certain Fed Coins. For example you could get 1000 Fed Coin a month but you'll HAVE to spend it all by the end of the 30 days or it will disappear. They can increase or decrease the timer.
• They are planning on making all other cryptocurrencies illegal

Sources

 

[arnoldbarclay]

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