THIS TIME IS SERIOUS. The United States Congress: “Digital currency: the future of money”
“US Lawmakers will gather tomorrow to discuss cryptocurrencies in a hearing entitled: "Digital Currency: The Future of Money”.
The Hearing will commence on July 18th at 2 pm EST and will be held by the Subcommittee on Monetary Policy and Trade. According to the memorandum, the hearing will consist of one panel comprised of the following witnesses:
“This hearing will examine the extent to which the United States government should consider cryptocurrencies as money and the potential domestic and global uses for cryptocurrencies. The Subcommittee will evaluate the merits of any uses by central banks of cryptocurrencies, and discuss the future of both cryptocurrencies and physical cash.”
The headline says it all which was a matter of time only. Democracy put on a mathematics, structured by technology can never be ignored, no matter how big a government is.
Well said 👊
sharing a nice post dear @melip
@upvoted & @resteemed
Thanks for informative post. @melip
What interesting news, that the Congress of the United States of America, meet to discuss the Digital Currency, is an important step of the American legislators, as I told you last time, the world economy is about to break the paradigms commercials.This news will be forwarded to my followers
hola melip.buen dia para ti,saludos
that's a great news @melip
@upvoted & @resteemed
good news @melip
@upvote & @resteem is done
Let's see what comes out of this meeting I think just as much the digital currency is the future is very close even you are already watching
Greetings from Venezuela I am a new follower
Hi @melip :)
👋
😊👌
In principle, this sounds like a good thing, but to give that power to central banks to control will at best be redundant. The ledger and built in inflation rates perform the duties of the central banks to start.
At worst; central banks will just use this power to best determine how to manipulate the algorithms to their own benefits. This would offset any benefits cryptocurrencies bring to the table to start.
I totally get your point however, you and I, and many people that understand the evolving algorithmic side of blockchain and crypto know that this can’t be altered nor modify without us knowing about it.
If this happens, then we’ll know for sure decentralization and our power to choose will take effect.
True, and IMO, if central banks were to play a role in crypto, the service would best be performed as a type of enforcement of the rules. To ensure that the markets are actually making apples to apples comparisons in terms of pricing (ex: bth <-> steem) but sitting back and allowing the tasks to be performed.
Also, would be important that the capacity of the currencies be able to accommodate the 10's of millions of transactions per second required of a real world currency.
I'll stop there for criticism and keep an eye on the good, that this is a real move to what many have wanted to see from crypto since it became a thing.