Will The “Digital Dollar,” Be Able to Keep Up?

Friday, July 16, 2021 at 4:11pm

According to Federal Reserve Chairman, Jerome Powell, the central bank digital currency (CBDC) is not the best move. The new digital dollar will be competing with Bitcoin, and other cryptocurrencies and stablecoins. The CBDC would survive against the others, but Bitcoin is uncensorable, unseizable, and unable to be manipulated. The new asset would be no different from a so-called “analog” dollar today, except it will probably include fewer privacy assurances, more censorship, and more direct control oversupply and monetary issuance.