Wall Street banks brace for digital dollars as the next big disruptive force | Crypto Craft

  • Wall Street banks brace for digital dollars as the next big disruptive force

    From cnbc.com

    Wall Street is warming up to the idea that the next big disruptive force on the horizon is central bank digital currencies, even though the Federal Reserve likely remains a few years away from developing its own. Led by countries as large as China and as small as the Bahamas, digital money is drawing stronger interest as the future of an increasingly cashless society. A digital dollar would resemble cryptocurrencies such as bitcoin or ethereum in some limited respects, but differ in important ways. Rather than be a tradable asset with wildly fluctuating prices and limited use, the central bank digital currency would ... (full story)

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RossEdwards
Apr 20, 2021 12:33pm
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"A major move to introduce central bank digital currencies (CBDCs) could actually disrupt the financial system,” .. Morgan Stanley, said in a report for clients. “Efforts to introduce CBDCs are gaining momentum, with as many as 86% of the world’s central banks exploring digital currencies.”
Has to happen. Potentially a major threat to current banking framework.. All depends on the detail of how its delivered.. You can be sure that Wall Street will be weighing in Big Big BigTime to ensure their interests are safeguarded.
IMHO mistake to even THINK of CBDCs in same space as Crypto. TOTALLY different animals. and can create completely wrong picture of what involved.
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