CBDCs: Financial Exclusion

Karlysymon

Karlysymon

Superstar
Joined
Mar 18, 2017
Messages
6,358
www.forbes.com

Iran Launches Central Bank Digital Currency Scheme With Local Banks And Shops

The launch of the Ramzrial (digital rial) by the Central Bank of Iran places the country among the digital currency frontrunners in the region
www.forbes.com www.forbes.com
Iran has begun experimenting with a central bank digital currency (CBDC), launching a pilot scheme in partnership with two local banks.

The launch of the Ramzrial (digital rial) by the Central Bank of Iran places the country among the digital currency frontrunners in the region.

Only a few countries have fully launched a CBDC, including the Bahamas, Jamaica and Nigeria. Around 26 other central banks have run pilot projects, according to the Switzerland-based Bank for International Settlements, which also says most central banks around the world are at least looking into the area.

The plans for the Ramzrial were announced in January, when a central bank official was cited by the local Ibena news agency saying a CBDC had been approved earlier that month. In June, central bank governor Ali Saleh Abadi said the currency would be launched in September.

That deadline has been met, with Abadi saying in recent days that a limited number of people had given 1 billion tomans ($311,000) by two of the country’s larger financial institutions, Bank Melli and Mellat Bank, and that two shops had been designated for the use of the currency.
 
Karlysymon

Karlysymon

Superstar
Joined
Mar 18, 2017
Messages
6,358
Lizard King said:
The safest currency is the EBT card.
Click to expand...
Lizard King said:
Well I only hope my digital wallet will have something in it lol.
Click to expand...
corbettreport.substack.com

What Is Programmable Money?

by James Corbett corbettreport.com October 15, 2022 There are 3 types of people in this world. There are those who read that SWIFT has "solve[d] the significant challenge of interoperability in cross-border transactions by bridging between different distributed ledger technology (DLT) networks...
corbettreport.substack.com corbettreport.substack.com
Following this line of thought, programmable money could also be used to perfect a system of carbon credits and individualized ESG scores. In today's world, it would be incredibly difficult for the government to implement a scheme where every store has to check your carbon allowance before allowing your next purchase. Sure, EBT cards can be programmed to disallow purchases from liquor stores, casinos or other naughty businesses, but stopping people from spending their own bank deposits (or cash) is much trickier.

In the CBDC world of the future, however, such restrictions could be programmed into the ledger itself. If your carbon credit or your ESG score is below a certain amount, no soup for you! (. . . Unless you're going to throw that soup on a painting to protest climate change, of course. That'll be allowed.)

And we haven't even gotten to the economic ramifications of programmable money. The infinite malleability of CBDCs is a wet dream to the technocratic tyrants who wish to manipulate the financial system to their benefit.

Consider this: CBDCs are not fungible. Each digital token in your CBDC wallet is individually identifiable, sequesterable and programmable. So let's imagine the central banksters, in their infinite wisdom, decide that people aren't spending enough. They could build demurrage into the network protocols; the longer a CBDC sits unspent in your wallet, the less it's worth.

Again, this is no hypothetical concern or flight of fancy. Even the UK government committee that made headlines for "condemning" the plan to create a new UK digital currency as a "solution in search of a problem" listed the fact that "a digital pound could be set to be spent by a deadline or on particular products or services" as one of the potential advantages of a Bank of England-issued CBDC.

China
bfsi.economictimes.indiatimes.com

Digital Currency: Yuan comes with an expiry date: Spend or it will vanish - ET BFSI

Yuan: China's digital currency is programmable to have an expiry date, which gives its central bank to effectively and boost consumption demand or impose negative rates as required.
bfsi.economictimes.indiatimes.com bfsi.economictimes.indiatimes.com
 
Lizard King

Lizard King

Star
Joined
Oct 20, 2021
Messages
1,712
Karlysymon said:
corbettreport.substack.com

What Is Programmable Money?

by James Corbett corbettreport.com October 15, 2022 There are 3 types of people in this world. There are those who read that SWIFT has "solve[d] the significant challenge of interoperability in cross-border transactions by bridging between different distributed ledger technology (DLT) networks...
corbettreport.substack.com corbettreport.substack.com
Following this line of thought, programmable money could also be used to perfect a system of carbon credits and individualized ESG scores. In today's world, it would be incredibly difficult for the government to implement a scheme where every store has to check your carbon allowance before allowing your next purchase. Sure, EBT cards can be programmed to disallow purchases from liquor stores, casinos or other naughty businesses, but stopping people from spending their own bank deposits (or cash) is much trickier.

In the CBDC world of the future, however, such restrictions could be programmed into the ledger itself. If your carbon credit or your ESG score is below a certain amount, no soup for you! (. . . Unless you're going to throw that soup on a painting to protest climate change, of course. That'll be allowed.)

And we haven't even gotten to the economic ramifications of programmable money. The infinite malleability of CBDCs is a wet dream to the technocratic tyrants who wish to manipulate the financial system to their benefit.

Consider this: CBDCs are not fungible. Each digital token in your CBDC wallet is individually identifiable, sequesterable and programmable. So let's imagine the central banksters, in their infinite wisdom, decide that people aren't spending enough. They could build demurrage into the network protocols; the longer a CBDC sits unspent in your wallet, the less it's worth.

Again, this is no hypothetical concern or flight of fancy. Even the UK government committee that made headlines for "condemning" the plan to create a new UK digital currency as a "solution in search of a problem" listed the fact that "a digital pound could be set to be spent by a deadline or on particular products or services" as one of the potential advantages of a Bank of England-issued CBDC.

China
bfsi.economictimes.indiatimes.com

Digital Currency: Yuan comes with an expiry date: Spend or it will vanish - ET BFSI

Yuan: China's digital currency is programmable to have an expiry date, which gives its central bank to effectively and boost consumption demand or impose negative rates as required.
bfsi.economictimes.indiatimes.com bfsi.economictimes.indiatimes.com
Click to expand...
I doubt the drug cartels will ever allow anything that will interfere with the sale of crack and fentanyl?
 
F

Frank Badfinger

Superstar
Joined
Aug 4, 2019
Messages
15,133
Shadoe at Nite with Shadoe Davis: Very worthwhile interview with Canadian AI expert, Day 4X Trader and "Died Suddenly News" creator, Tiago Henriques. They discuss the coming financial collapse, CBDC, what he's investing in and what he's not, what can we do and can it be stopped?
30 mins

Screenshot 2022-10-19 at 01-37-14 Shadoe at Nite Mon Oct. 17th_2022.png

Starts at 4:40

rumble.com

Shadoe at Nite Mon Oct. 17th/2022

Tonight: "Died Suddenly News" creator Tiago Henriques is my guest, also an interesting clip caught on a hot mic at the emergency act inquiry Friday, Home energy costs to spike by 100% this winter, Bey
rumble.com rumble.com
 
Last edited:
D

DavidSon

Star
Joined
Jan 10, 2019
Messages
1,793
I'm not a bitcoin fanatic but nice article about the failure of Nigeria's CBDC, eNaira:

Another Big CBDC Flop

Last year, Nigeria launched its much-ballyhooed eNaira, Africa’s first central bank digital currency (CBDC).

Central bankers, academics, politicians, and an assortment of elites from over 100 countries hoping to launch their own CBDCs have closely followed the eNaira.

They used Nigeria—Africa’s largest country by population and size of its economy—as a Petri dish to test their nefarious plans to use CBDCs to enslave the people of North America, Europe, and beyond.

The jury is now in.

The eNaira has been a massive failure.

According to Bloomberg, only 1 in 200 Nigerians use the eNaira. That’s even after the government implemented discounts and other incentives as desperate measures to increase adoption...
 
You must log in or register to reply here.
Top