The Federal Reserve Bank of New York announced a 12-week digital currency platform trial. In collaboration with some of the largest financial institutions in the world including Wells Fargo and Citibank, members of the U.S. banking community will be running a proof of concept (PoC) project. The PoC will explore the feasibility of digital money on what is known as the regulated liability network (RLN).
In this trial commercial banks will issue digital money, or tokens, representing their customer’s deposits. They will utilize a shared multi-entry distributed ledger in order to settle up with central bank reserves. Undetected by the general population this trial is very important for the advancement of global banking and is a critical first step towards a cashless society.
As many have pointed out government controlled digital currency would mean the end of liberty and freedom. If the government and Central Banks have the ability to control and monitor every transaction, they just as easily could shut off your ability to buy anything. One way to reject this system is to use #CashEveryDay. -JD
Link To Demand Congress Oppose Digital Currency
November 5, 2022 | By Natalie Smolenski | coldfax.com
Link To Article HERE
November 17, 2022 | By Robert Aro | Mises Institute
Link To Article HERE