Central Banks Are Creating Digital Fiat Currency
Came across this article and it caught my eye because Ray Dalio has invested in it.
There are only a handful of money managers I respect and he is one of them as the track record for his bridegwater associates fund speaks for itself.
Anyway, apparently eCurrency is the driver behind this "central bank governed digital currency" as called on their website.
It's not the blockchain, but looks like central banks I trying to get into the digital game. One of the goals from what I read is to make transactions easier and more viable in developing countries.
Here's the link to the entire forbes article:
http://www.forbes.com/sites/gurufocus/2016/12/20/ray-dalio-backs-first-above-ground-digital-currency-company/#5354c47b1123
Regards,
Mitchell J
Thanks for the pic pixabay
Digitally generated tokens at least the steem ones are not created based on dept, this means they could eventually be used to bail out the government.
Exactly, same story just a new form.
Great piece. Upvoted and tweeted. Stephen
https://twitter.com/StephenPKendal/status/811506043947806720
Thanks! Central Banks not going down without a fight it seems
Disclaimer: I am just a bot trying to be helpful.
Interesting article, but to me it feels like a step backward. The way it's described makes it sound like basically a digital equivalent of centralized money printing. We need to move away from concepts tied to the existing fiat world.
Cryptocurrencies already solve all the same problems that eCurrency tackles, and doesn't require yet more trust in failure-prone centralized entities. Also, the whole "slightly more above-ground than Bitcoin" thing rubs me the wrong way; it reveals an ignorance and possible bias towards crypto on the part of the author.
Exactly, their goal isn't to be better than cyrpto - it's to create a digital version of the same fiat currency system we have now so they may maintain control. Unfortunately I don't see central banks just giving way to crypto without some sort of fight.