Current Currency Matters:

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   Kathryn L Hillposted 2 years ago

   "On March 9, 2022, President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets, bringing the U.S. Government one step closer to regulating cryptocurrencies1 and digital assets2 at the federal level and international stage."
   
   1 The Executive Order defines "cryptocurrencies" as "a digital asset, which may be a medium of exchange, for which generation or ownership records are supported through a distributed ledger technology that relies on cryptography, such as a blockchain and digital assets."
   
   2 The Executive Order defines the term "digital assets" as all central bank digital currencies (CBDCs), "regardless of the technology used, and to other representations of value, financial assets and instruments, or claims that are used to make payments or investments, or to transmit or exchange funds or the equivalent thereof, that are issued or represented in digital form through the use of distributed ledger technology. For example, digital assets include cryptocurrencies, stablecoins and CBDCs. Regardless of the label used, a digital asset may be, among other things, a security, a commodity, a derivative, or other financial product. Digital assets may be exchanged across digital asset trading platforms, including centralized and decentralized finance platforms, or through peer-to-peer technologies."
   
   3 The Executive Order defines the term "central bank digital currency" or "CBDC" as "a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank."
   
   4 The Executive Order defines "stablecoins" as "a category of cryptocurrencies with mechanisms that are aimed at maintaining a stable value, such as by pegging the value of the coin to a specific currency, asset, or pool of assets or by algorithmically controlling supply in response to changes in demand in order to stabilize value."
   https://www.csglaw.com/president-biden- … al-assets-
   
   Are YOU fine with digital currency?

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   1. 87

      Nathanvilleposted 2 years agoin reply to this

      For clarity, there is a world of difference between ‘digital currency’ and ‘cryptocurrency’.  The former e.g. digital currency, we are moving closer to in that more and more people and private organisations are choosing to use cashless money, more and more frequently, anyway e.g. credit and debit cards instead of physical cash in your pocket.  But going cashless doesn’t mean going cryptocurrency.
      
      Yeah, the Bank of England is considering whether to introduce a central bank digital currency in the UK, but no firm decision has yet been made; but even if they do, it’s nothing whatsoever to do cryptocurrency which is entirely different altogether:  See link below
      
      https://www.bankofengland.co.uk/digital-currencies

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2. 84

   Kathryn L Hillposted 2 years ago

   Interesting comments from about a decade ago:
   
   https://hubpages.com/education/forum/22 … em-changed

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3. 84

   Kathryn L Hillposted 2 years ago

   I wondered about the comparison to Crypto currency. I have also heard of Rainbow currency and Brexit currency. Do you know anything about these?
   
   It seems to me that Digital records/currency could cause a loss of control over the value of money. OUR money.

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   1. 87

      Nathanvilleposted 2 years agoin reply to this

      The Rainbow currency is based on a conspiracy theory; so you needn’t worry about that; the link below explains in more detail:-
      
      https://en.wikipedia.org/wiki/NESARA
      
      The Brexit currency was just propaganda by the pro-Brexit group within the Conservative Party e.g. a false claim (lie) that if people voted to leave the EU then there would be more Government money available to spend on the NHS (see image below).
      
      However, one currency that is real is the Bristol Pound, although because of the pandemic that is changing from a paper money to 100% digital money; as explained in more detail below; Bristol being the city where I live.
      
      Back in 2012 the Bristol Credit Union financially backed the creation of the ‘Bristol Pound’ e.g. a local currency that could only be used in Bristol. 
      
      The Bristol pound ceased operating in 2020 because of the pandemic e.g. the fear of passing on covid through the use of paper money (although you could also pay electronically if you wanted to).  However, the Bristol Credit union is currently working with the organisers to create a 100% electronic version of the Bristol pound, which will be called ‘Bristol Pay’.
      
      Why use the Bristol Pound?  https://youtu.be/cj3Bp13hLiE
      
      Personally I prefer paper money to using a credit or debit card; but the reality is that I’m in the minority e.g. the vast majority of people in Britain prefer to use their debit or credit card – so whether we like it or not we are slowly moving towards a cashless society, where all transactions will be electronic (digital).
      
      The first image below is the propaganda (lies) by the Brexit supporters in the Conservative Party.
      
      The second image is a photo of the rather colourful and attractive looking Bristol Pounds.
      
      
      
      

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4. 84

   Kathryn L Hillposted 2 years ago

   Thank You!

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   1. 87

      Nathanvilleposted 2 years agoin reply to this

      Thanks

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