He’s interesting if nothing else.
I recently also came across the narrative that CBDCs are actually a means for countries to set up alternative payment systems outside of SWIFT and I guess the (euro)dollar system.
Which apparently is why the Chinese are on the forefront and pushing it hard.
Makes sense to me. Never heard of Tom Luongo though.
The tech already exists. It just needs to be implemented and have laws to enforce it.
When you don’t care about decentralization and transparency, a lot of the work with coins like BTC go away. Most money is digital already, at least 80%, probably more. I don’t think it’s that difficult. Sure, it will need to be phased in but you can always do incentives like debt forgiveness to get people to move.
@midway @jcbrand @NBS
2030 doesn't sound unreasonable but earlier I don't buy.
bear in mind we're talking about government developing IT - banks still use COBOL ffs and you're trying to tell me they can roll out CBDC, across the SWIFT system, in less than 8 years, without major fuck ups?
don't buy it myself
@midway @jcbrand @NBS agreed, motivation is no guarantee of success though
not to be complacent but the plandemic is starting to look more and more like peak globalism, CBDCs or no there are too many threads unravelling in too many directions to put the genie back in the bottle
not necceserilly (how the fuck do you spell neccesarilly) all good, probably a lot of bad will come of it, but I'm less worried about the WEF et al. than I was a year ago, for example
Optimism is good. I hope you are correct. I just see so many governments looking at China with envy and want that level of control. How did Canada stop the trucker protests? They froze their bank accounts. Very efficient way to suppress dissent. BTW: who had Canada in their authoritarian bingo card?
@jcbrand @midway @NBS *BIS, bank of international settlements