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– TIMESTAMPS –
0:00 Intro
1:56 What are CBDCs?
6:31 Implications of a profitable CBDC
11:04 May CBDCs be key to digital forex adoption?
12:58 CBDC challenges
15:07 My ideas on the way forward for CBDCs
22:27 Ultimate ideas
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⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► What’s a CBDC:
► 70% of central banks concerned in CBDC analysis:
► FED researches CBDCs:
► China’s digital Yuan:
► Sweden’s digital e-Krona:
► CBDCs & de-dollarisation Cambodia:
► Marshall Islands SOV CBDC:
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❓What are CBDC’s ❓
Briefly, they’re digital fee tokens that are issued and absolutely backed by a central financial institution. One other key distinction is that they’re thought-about authorized tender.
Extremely, 70% of all Central Banks within the World are conducting some form of analysis into CBDCs proper now!
That features international locations just like the US, China, Sweden, Cambodia and lots of extra.
However why all of the hype? There are three principal causes:
► Effectivity: rising the benefit of deploying financial coverage.
► Growing monetary inclusion: that is significantly salient in rising markets the place entry to ATMs would possibly require a stroll spanning a number of days.
► To create or shield a type of financial sovereignty.
However right here’s the query; why use blockchain for CBDCs? In a nutshell, blockchain affords stability between the privateness traits of money and the safety traits of deposits.
👍 Implications of a Profitable CBDC 👍
We have to distinguish between the advantages for Central Banks and the broader public. In rising markets, money may be very arduous for many individuals to entry and contain a mammoth journey to the closest money machine. That may be harmful and put folks liable to being robbed.
With CBDCs, they really have an instantaneous comfort and safety profit for customers. To entry them, all you want is a telephone.
I am going additional into the advantages of CBDCs in my vid.
🔑 May CBDCs be key to digital forex adoption? 🔑
One of many key issues holding again digital forex adoptions appears to be the dearth of interfacing with the prevailing monetary system – in spite of everything, the overwhelming majority of persons are not in crypto.
That’s the reason folks declare that for any digital forex to be broadly adopted, it must be accepted by the present monetary system. The simplest manner of doing that’s truly by issuing a CBDC from an official actor.
The Marshall Islands is likely to be an fascinating case examine for that. I clarify that within the video.
🏋️ CBDC Challenges 🏋️
CBDCs would possibly seem to be a no brainer, nonetheless, there are challenges.
The primary is usability. This can be a downside significantly in international locations in an rising market context; what occurs if one of many folks making an attempt to transact doesn’t have a smartphone?
How will you make funds digital for folks with only a lavatory normal telephone?
The reality is that most individuals within the World don’t have a smartphone and this makes this problem key if CBDCs are actually going to be broadly adopted.
The second, large problem is privateness. The privateness paradox is that Central Bankers fairly just like the privateness preserving nature of money because it gives resilience in opposition to the state. Alternatively, there’s a bunch of AML and KYC regulation for bigger fee quantities.
🔮 The Way forward for CBDC’s 🔮
Watch the vid to listen to my ideas on the way forward for CBDCs and what all this implies for crypto!
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📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who just isn’t a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any explicit consequence.
#CBDC #crypto #blockchain #banking #eyuan #fed #euro
Source: Coin Bureau
50 Responses
Glad you guys are liking the vid. Yep, central banks are all about control and CBDCs will be their method of gaining more control. But, it will mean more people using crypto. So, if it does come to pass it will be an opportunity to convince more people of the benefits of open source and permissionless cryptocurrency. Be sure to jump into my telegram channel if you want my thoughts on all things crypto: https://t.me/cbinsider
The UK are about to implement this 😫 This terrifies me. I wish I was born 100 years earlier!
No hate them
Don’t want it give ppl option I would rather use bitcoin
The US Government will not like to use a public blockchain because it would expose the incredible corruption and manipulation of the monitory system.
It's pretty terrifying to think of the horrors which CBDC's and blockchain could enable, they can be used for both massive good, or massive evil. Its a safe bet that CBDC's will be coded to block certain transactions to prevent you buying other crypto – banks like barclays have already blocked Binance transactions. Not to mention the mandating of vaccination and other processes to access basic freedoms. Never underestimate the will of government to oppress its own people. We're gonna want to be somewhere safe over the next couple of decades.
Comes back to the same old question, will the powers that be squeeze out crypto currencies so that they have complete control? The cynic in me says yes. With the cash economy in developing countries estimated at 36% of GDP and 13% in developed countries, it seems like one of the main reasons for governments adopting CBDC's is also to recoup this lost money. So yes I think cash will go the way of the dodo.
centralized control means communism. is USA becoming CHINA?
A financial system free from many of the burdens and pitfalls created by trusted intermediaries and powerful masters sounds like a beautiful future we should all want to usher in…
Guy you are the best…keep it up
CBDCs have me terrified. Nothing about that sounds beneficial for my mental health.
All bullish for AMP
This channel… PURE GEM!
Good info！！TQVM!!
conspiracy
china gave everyone debt and supported countries in the last 5-10 years and then they made a virus so they default on the loans and china takes all the property
so china bought t bills and re invest the interest to buy more t bills?
basically doing a buy back (buying up all the US dollars to deflate the circulating supply)
this is wild
cbdc would enable algos running accounting formulas on individuals and corporations issuing a credit score
instead of people inputting dollar amounts
the programs can see where each penny is
$pltr
how would a cbdc be realistic
that would mean i can track dollars going into a rich persons wallet
and then the amount he pays his lawyers or whatever
why would anyone let that be documented
and the moeny flow in trusts and corporations to avoid publicity
using an llc to own a rental property
it will only be adopted in 20-40 years where the oldest people are gone and everyone is using a smart phone and digital moeny
the whole idea of having crypto is to go away from a centralised control. so, no thanks.
Hope CBDC gets hacked
The world is in debt to itself…lmao
How is it more inclusive if you MUST have a smartphone to use it? That cuts out a bunch of people who can’t afford/ don’t want a smartphone. Those people do exist.
China is creating real life 1984.
I do agree that CBDCs will "promote" blockchain etc. Also, the spying part of it is interesting. To achieve singularity we have to act as one. The problem is, there's always someone on the top. It creates variable that is dangerous. It's like towing an elephant to the tip of a pyramid. The higher it goes the bigger the chance of falling one way or another. It all comes down to the western world and its trust in itself. Can we manage a system like that without falling into dystopia? On the other hand, we can't continue with the current system. It's inefficient, risky and outdated.
Your my monk to crypto, if you weren't younger than myself I would ask you to adopt me 😝 financially that is. 😉
The problem with decentralised currency is it has nothing backing it, it can litreraly drop to 0. With a CBDC you have national government with billions of dollars tax revenue and asset's to give it stability.
Cant believe this only has 35k views… i mean, this topic compared to your other videos
Will we be able to exchange cryptos like BTC or XMR for CBDCs I wonder?
i make huge profits on my investment since i started trading with Mrs luna lucia,her trading strategies are top notch.
Blockchain is good tech. The governments of the world appreciate it being open source.
Crypto currencies will be irrelevant to most people
was "Coin Armoire" taken?
U dont own the cash or cbdc. You have the "use" of that said currency.
XRP
CBDC!!!!🤑🤑🤑🤑🤑 yeal! Lets swallow their hook to ripe off our guts! Cute!
Learn from entities that took 500 years to cover the distance that that others have done in 35 years! It reminds of a guy back in college days, he was 65 finishing his undergraduate degree that had taken him 9years. Yet he was so errogant and calling other students names and slow, who actually were a quarter his age, and finishing their first degree…within 3yrs. Human condition!!!. Stick with founders of innovation…..let them call you names, because thats their do best! Their are NO masses following them. Its one of those edge old cliches! "Everyone is talking about"…. While there is none! The guys in crypto are working are real Satoshies! Working day and night to innovate not to contain. Misery loves company and recognition. Innovation loves solitude! The world is gravitating towards solitude. Those that have not figured it out it will be imposed on them. Learn it live it and love it! It is here to stay! No more noise the end!!!
CBDC is anti-freedom and is digital slavery
You are a crypto genius ! Tk
Which blockchains are the cyn
, usd cbdc going to be on
But Mad Max world seems cool..
Congratulations Guy. Excellent.
Just the name "Central Bank" means total control of YOUR money (which is not theirs). And continued slow service and RIPOFF FEES for transfers and all other transactions. If banks have anything to do with your money … they will find ways to steal a good portion of it. Crypto miners who are rampantly ripping crypto holders off (especially ETH ERC20 token holders) with ridiculous fees will eventually learn the hard way that people will NOT overpay for services. These miners need to get their act together and stop this or they will become an irrelevant middleman too !!!
It's not decentralized, meaning the owners can manipulate anyone's bank account as they see fit. Any centralized currency is FRAUDULENT.
FRAUDULENT CURRENCY. Any digital currency that is not decentralized is
FRAUD. The entire point of decentralizing a currency is to prevent its
issuers from manipulating its value for their own benefit. Never ever
use this fake digital currency. They are trying to hide the fact that
its not a true currency, and that they will be able to control its value
by simply pressing a button….its just 1's and 0's on a computer, they
can add or remove money from anyone's account. They can also track
everything you purchase. Do NOT support Central Bank Digital Currencies.
They will create inflation because they will continue to create money
out of thin air. But even worse, they will now be able to remove money
from your account if they dont like you. Or add money to their accounts.
I will also say NO to CBGC’s . YES to BTC and ETH.
Well that pretty well covered it for me, but I still haven't reconciled how CBDC can be used by govt's for their pet projects. If CBDC is blockchain crypto and can't be "printed" as fiat is, it means that govt's can't overspend. No HS2 in UK, slimmed down benefit system, etc etc. Whilst this might be a good thing in the long term, short term it will be chaotic. It means no inflation. Please explain if I'm missing something. Also the state having so much power is a real worry.
I respect you are reporting the 'news', but the reason they want this is control. If you don't comply, they turn off your wallet. Duh. (EDIT) I knew I probably commented to early.
Most time having knowledge or insight about a particular activity can as well be pleasing exercise. I can boldly say that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.
Debt with a hint of debt……..
Pablo had more dollars than most us citizens loool
Helicopter money! Lol!!!