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United States FED Digital Currency: Future Of Money Or Digital Colonization? (Opinion)

In the beginning of October, the United States Federal Reserve announced the possible adoption of digital currency by the United States. The FED came up with a digital currency, the Central Bank Digital Currency (CBD) or the Fed Digital Dollar, which they are looking to introduce to America and the world as an alternative to physical cash.

The FED coin/dollar will be an electronic coded data currency like Bitcoin and Doge coin. The Fed digital dollar could make it faster and cheaper to move money around the financial system, bring into it people who lack bank accounts and provide an efficient way for the government to distribute financial aid.

Despite of FED digital dollar seeming to be the future of money, many powerful people have come out loudly to oppose the FeD digital currency. These people include Rich Dad Poor Dad author Robert Kiyosaki. Robert has opposed Fed coin terming it as a means through which FED will controll and restrict financial transactions. He also argued that this move by FED will bring a lot of inflation since there will be no control on the amount money circulating online.

While the United States is looking to start using FED digital dollar, China is already using their digital currency. China has been using their new Digital Currency Electronic Payment (DCEP) and its digital currency, the digital yuan (e-CNY) since mid-August 2021.

The United States seeks to use the digital currency for domestic and international payments.


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Content created and supplied by: MrParod (via Opera News )

America Bitcoin FED United States United States Federal Reserve

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