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In this video, I cover how the Fed recently announced details for the U.S. Backed cryptocurrency.
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Over the past few years, cryptocurrencies have gained immense popularity with retail investors, especially with the rise of coins such as Bitcoin, Ethereum, and even Dogecoin. However, although retail investors definitely represent a large portion of the crypto economy, cryptocurrencies have also gained a lot of traction from large financial institutions, including banks, investment firms, and publicly traded companies. Nevertheless, there is still another major step that is currently in the works. And by that, I’m talking about the US government itself. In this video, I’ll cover how the US government recently announced some details for a potential US-backed cryptocurrency and why this new creation could impact the crypto market in a significant manner, and the way we live our lives. Welcome to Casgains Academy. If you’re new to the channel, please consider subscribing for more content like this, and let’s get right into it.
A lot of cryptocurrencies are known for being decentralized, which means that no government institutions or people are backing these cryptos. This is against the design of traditional currencies like the US dollar, where the Fed can and has shown to print more whenever it feels like it. In addition, many cryptos are popular because they have a limited supply, which can be used to hedge against the financial system. On the flip side, over the past few years, there’s been a huge increase in the interest for central bank digital currencies, also known as CBDCs. CBDCs have been looked to as a tool to modernize the financial system, and have already gained traction in several large countries across the world. Most recently, China announced the development of its own central bank digital currency through a pilot program, which shook the world in a drastic manner. But first of all, you might be wondering, how would this CBDC even work? China’s CBDC is known as the digital yuan, as that is practically what it is. The digital yuan has been proposed to use a foreign exchange platform like blockchain. There are two major new uses with the digital yuan that the paper yuan does not allow for. The first reason for the creation of China’s CBDC is that it allows regulators to quickly track people’s payments, which is definitely something that may be concerning for some citizens. The People’s Bank of China, which is China’s central bank, explained how “information flow and fund flows should be synchronized to facilitate regulators to monitor the transactions for compliance.” Mu Changchun, an official of the People's Bank of China (PBoC), has said a "completely anonymous central bank digital currency (CBDC) is not an option" based on international consensus. Rather, China wants to maintain control of its currency. He further states, "The precondition of CBDC's anonymity is it being risk-controllable and limited. A fully anonymous CBDC is not practical." This will likely be negatively received by a lot of you watching, especially since that essentially defeats the fundamental purpose of a cryptocurrency in the first place. Those that are concerned about privacy issues are not alone. A three-month survey done with the European Central Bank found that the biggest factor for a CBDC in the eyes of EU residents was privacy, which was actually valued over security. However, China clearly has a different view on CBDCs, which may affect the popularity of its use. In addition, there’s also one other major reason why China is creating a CBDC, which is for foreign exchange. Oftentimes, when we exchange our currency for other foreign currencies, the process can be complicated and expensive. Through a digital currency, the process will become cheaper and easier for foreign citizens to exchange their currency. With that being said, the US has also been going through its own cryptocurrency developments, which will certainly impact the crypto economy and the way we process our daily transactions. Since January of 2020, the US government has been working on developing a US-backed cryptocurrency under a project named the Digital Dollar Project. Central banks have actually begun talking about digital currencies decades ago. However, because the use of cash is now declining, especially during the pandemic, governments have brought it up once again
In this video, I cover how the Fed recently announced details for the U.S. Backed cryptocurrency.
Join our free discord here: https://discord.gg/xUWB2ExVcr
My Second Channel:
https://www.youtube.com/channel/UCPkDot_lMk7HB_c68HubbUg
Twitter: https://twitter.com/casgains
Instagram: https://www.instagram.com/casgainsacademy/
Soundtracks provided by LCS, Nanobyte, Emphermal, Defyant, and Lakey Inspired
Copyright Disclaimer Under Section 107 of the Copyright Act 1976: All rights belong to their respective owners.
Over the past few years, cryptocurrencies have gained immense popularity with retail investors, especially with the rise of coins such as Bitcoin, Ethereum, and even Dogecoin. However, although retail investors definitely represent a large portion of the crypto economy, cryptocurrencies have also gained a lot of traction from large financial institutions, including banks, investment firms, and publicly traded companies. Nevertheless, there is still another major step that is currently in the works. And by that, I’m talking about the US government itself. In this video, I’ll cover how the US government recently announced some details for a potential US-backed cryptocurrency and why this new creation could impact the crypto market in a significant manner, and the way we live our lives. Welcome to Casgains Academy. If you’re new to the channel, please consider subscribing for more content like this, and let’s get right into it.
A lot of cryptocurrencies are known for being decentralized, which means that no government institutions or people are backing these cryptos. This is against the design of traditional currencies like the US dollar, where the Fed can and has shown to print more whenever it feels like it. In addition, many cryptos are popular because they have a limited supply, which can be used to hedge against the financial system. On the flip side, over the past few years, there’s been a huge increase in the interest for central bank digital currencies, also known as CBDCs. CBDCs have been looked to as a tool to modernize the financial system, and have already gained traction in several large countries across the world. Most recently, China announced the development of its own central bank digital currency through a pilot program, which shook the world in a drastic manner. But first of all, you might be wondering, how would this CBDC even work? China’s CBDC is known as the digital yuan, as that is practically what it is. The digital yuan has been proposed to use a foreign exchange platform like blockchain. There are two major new uses with the digital yuan that the paper yuan does not allow for. The first reason for the creation of China’s CBDC is that it allows regulators to quickly track people’s payments, which is definitely something that may be concerning for some citizens. The People’s Bank of China, which is China’s central bank, explained how “information flow and fund flows should be synchronized to facilitate regulators to monitor the transactions for compliance.” Mu Changchun, an official of the People's Bank of China (PBoC), has said a "completely anonymous central bank digital currency (CBDC) is not an option" based on international consensus. Rather, China wants to maintain control of its currency. He further states, "The precondition of CBDC's anonymity is it being risk-controllable and limited. A fully anonymous CBDC is not practical." This will likely be negatively received by a lot of you watching, especially since that essentially defeats the fundamental purpose of a cryptocurrency in the first place. Those that are concerned about privacy issues are not alone. A three-month survey done with the European Central Bank found that the biggest factor for a CBDC in the eyes of EU residents was privacy, which was actually valued over security. However, China clearly has a different view on CBDCs, which may affect the popularity of its use. In addition, there’s also one other major reason why China is creating a CBDC, which is for foreign exchange. Oftentimes, when we exchange our currency for other foreign currencies, the process can be complicated and expensive. Through a digital currency, the process will become cheaper and easier for foreign citizens to exchange their currency. With that being said, the US has also been going through its own cryptocurrency developments, which will certainly impact the crypto economy and the way we process our daily transactions. Since January of 2020, the US government has been working on developing a US-backed cryptocurrency under a project named the Digital Dollar Project. Central banks have actually begun talking about digital currencies decades ago. However, because the use of cash is now declining, especially during the pandemic, governments have brought it up once again
Over the past few years, cryptocurrencies have gained immense popularity with retail investors, especially with the rise of coins such as bitcoin, ethereum and even dogecoin. However, although retail investors definitely represent a huge portion of the crypto economy, cryptocurrencies have also gained a lot of traction from large financial institutions, including banks, investment firms and publicly traded companies. Nevertheless, there is still another major step that is currently in the works and by that i'm talking about the us government itself in this video, i will cover how the us government recently announced some details for a potential u.s backed cryptocurrency, and why this new creation could Impact the crypto market in a significant manner and the way we live our lives welcome to caskians academy. If you're new to the channel, please consider subscribing for more content like this and let's get right into it.
A lot of cryptocurrencies are known for being decentralized, which means that no government institutions or people are backing these cryptos. This is against the design of traditional currencies like the us dollar, where the fed can and has shown the print more whenever it feels like it. In addition, many cryptos are popular because they have a limited supply which can be used to hedge against a financial system. On the flip side, over the past few years, there's been a huge increase in the interest for central bank.
Digital currencies, also known as cbdc's cbdc's, have been looked to as a tool to modernize the financial system and have already gained traction in several large countries across the world. Most recently, china announced the development of its own central bank digital currency through a pilot program which shook the world in a drastic manner, but first of all, you might be wondering how would this cbdc even work? China's cbdc is known as the digital yuan, as that is practically what it is. The digital yuan has been proposed to use a financial exchange platform like blockchain. There were two major new uses for the digital yuan that the paper yuan does not allow.
For the first reason for the creation of china's cbdc is that it allows regulators to quickly track people's payments, which is definitely something that may be concerning for some citizens. The people's bank of china, which is china's central bank, explained how information flow and fund flows should be synchronized to facilitate regulators to monitor the transactions for compliance mu chang chun an official of the people's bank of china has cited completely anonymous. Central bank digital currency is not an option even when based on international consensus. Rather, china wants to maintain control of its currency.
He further states the precondition of cbdc's anonymity. Is it being risk controllable and limited a fully anonymous? Cbdc is not practical. This will likely be negatively received by a lot of you watching, especially since that essentially defeats the fundamental purpose of a cryptocurrency. In the first place, those that are concerned about privacy issues are not alone. A three-month survey done with the european central bank found that the biggest factor for a cbdc in the eyes of eu residents was privacy, which was actually valued over security. However, china clearly has a different view on cbdc's, which may affect the popularity of its use. In addition to transparency, there's also one other major reason why china is creating a cbdc which is for foreign exchange oftentimes when we exchange our currency for other foreign currencies, the process can be complicated and expensive through a digital currency. The process will become easier and cheaper for foreign citizens to exchange their currency.
With that being said, the u.s has also been going through its own cryptocurrency developments, which will certainly impact the crypto economy and the way we process our daily transactions before we get into it. I have a massive announcement for everyone, because i am officially starting a challenge on patreon, with a real brand new 25 000 stock portfolio and growing it to hundred thousand dollars by real. I mean my actual money and not some virtual paper trading account, especially during the current changing market climate. There are going to be many once in a decade or even once in a lifetime, buying opportunities and together we'll be able to take advantage of these long-term opportunities and aggressively grow our portfolios, while taking only calculated risks.
I'm beyond excited to offer this and provide significant value to you guys. So if you're interested or just curious in seeing how i navigate my portfolio real time as well as frequent stock market updates, my main portfolio buy and sell alerts and more check out my patreon in the description below since january of 2020, the us government has been Working on developing a u.s, backed cryptocurrency under a project named the digital dollar project, central banks have actually begun talking about digital currencies decades ago, however, because the use of cash is now declining, especially during the pandemic, governments have brought it up once again details for the U.S cryptocurrency have already been released and, unlike china, the us actually values, privacy and security. The u.s cryptocurrency will be tokenized, which means that owners of the cryptocurrency are anonymous. It will also be issued by the federal reserve to banks, which is an important detail.
Unlike current digital payment systems, the us cryptocurrency will actually have value behind it. The current electronic money system, which is executed by financial payment apps such as square works as an indirect claim of money instead of an actual functioning digital equivalent of cash in comparison. Physical banknotes are a direct claim on money. While this may seem fine. The current digital money system can have drastic effects on the economy, such as potential fraud issues or insolvency and paying back debts, not only that, but transactions created by commercial banks often take days to settle and also have fees with them with the new us cryptocurrency. This will finally be resolved. Transactions will be quick, seamless and also likely have lower fees due to high liquidity. Additionally, the u.s currency will also be able to be transacted offline if both parties of the transaction are close together in physical proximity.
To top it off, the us cryptocurrency will be accessible by everyone in the united states. No matter what your income, level, location or characteristics are, one interesting component of the u.s backed currency is that it allows for complementary sector innovation, which means that applications can be used with the currency similar to ethereum. Yet, although a decent amount of details about the us cbdc have been released, there are still some questions that the government is working on. Addressing one major question is how much regulation the currency should have.
The fourth amendment in the constitution establishes that consumers should be protected from companies using user data, so this brings up questions about how much privacy will be given to users of the cryptocurrency. Because of questions like this, the u.s is running a pilot project to finalize the details for the currency. Most recently, the digital dollar project launched this first five pilot projects for the u.s cryptocurrency. These projects will generate data on what the benefits of a digital dollar are and what types of uses the digital dollar has.
Once these projects are completed, this data will be revealed to the public so stay tuned and hit the subscribe button. If you're interested in knowing more about this in the future, the federal reserve is also working with mit to build a suitable technology platform for the hypothetical digital dollar. This platform will be similar to how blockchain is used for transacting cryptocurrencies today, but instead of blockchain. It will be the us government's own transactional platform.
The fed chairman, jerome powell, has emphasized how the u.s is trying to get the digital dollar right, rather than be the first country to create a cbdc powell believes that china is only implementing his own cbdc because they want to oversee everyone's transactions. Um far more important to get it right than it is to do it fast or feel that we need to rush to reach conclusions because other countries are moving ahead. I mean that what the china, the the currency that's being used in china is not one that would that would work here. It's wanted that uh that really allows the government to see every payment that's used for which is used in real time.
It's much more to do with things that are happening within their own financial system than it is, i think, to do with uh with the global uh. You know sort of global competition. On the other side of the debate, some prominent leaders think that the federal reserve needs to realize how important the digital dollar actually is. Christopher giancarlo, the former chair of the commodity futures trading commission and the co-founder of the digital dollar foundation, recently argued that a 10-year experiment with cryptos like bitcoin and ethereum, has shown that digital money is going to play an important role ahead. As a result, he then explained how policymakers need to wake up to the need for a digital dollar and speed up the rollout of the currency with caution. Overall, this does seem like a revolutionary idea, in the sense that it would be beneficial for everyone. Overall, the us cryptocurrency will definitely have huge implications for one. The us cbdc will likely bring more attention to the crypto economy and benefit other cryptocurrencies by shifting the public to be more open-minded about cryptocurrencies.
Furthermore, a u.s cryptocurrency would likely show people the benefits of having a decentralized currency like bitcoin or ethereum. So far, nearly all central banks have not finalized their cbdc's and most countries are still in the testing stages. However, there is actually one cbdc already out and running right now, which is a cryptocurrency created by the bahamas. Last year, the bahamas launched the sand dollar cbdc following the destruction of their previous banking infrastructure, from hurricane dorian in 2019 in the pandemic in 2020.
This has been relatively successful as it eliminates the need of traveling to atms and can also be used with mobile payment apps. As for the us, it is likely that the cryptocurrency remains in the piloting stages for a while, and china will probably come out with a digital currency before the u.s. What do you think of a us-based cryptocurrency? How will it affect our current crypto market and the reserve status of the us dollar? If you enjoyed this video, please hit the like button and don't forget to subscribe and i'll see you in the next one.
Bitcoin has been rising for a while now and it might keep rising or decide to fall again. The truth is no one knows, I believe it's the right time to make purchase
Nice video and thanks for also recommending your broker Mrs Bridget. Her services are exceptional and I've been earning greatly from investing with her
This world has gone full stupid. People value fake credits backed by nothing but a digital account which could be wiped out with a key board stroke. I have no faith in people who know the price of everything and the value of nothing same goes for selecting a wife. The world is made of nothing but video gaming losers. I look forward to a solar disruption to cull these idiots.
I admire the efforts u put in your videos mate. Bitcoin's price action has been fluctuation throughout the past few days and weeks, with bulls and bears both reaching a clear impasse, the aggregated cryptocurrency market has been following in Bitcoin's lead and is
struggling to garner any decisive
momentum. One analyst is now noting that BTC has been holding above a key macro level throughout the past few months. He believes that the recent consolidation above this level bodes well for its near-term outlook and could indicate that significantly further upside is imminent in the weeks and months
ahead. Tips like this it's advisable for investors and newbies to trade with the help of pro traders like
Mrs Alice . She's always onestep ahead of other traders, she fully monitored all my trades to avoid me making mistakes and losing my money. My earnings have increased drastically from 1BTC to 9.2BTC in just 3weeks using her strategy. You can easily reach Mrs Alice+ ➊ ➎ ➋ ⓿ ➌ ➑ ⓿ ➎ ➐ ➎ ➏
I think digital currency is a good idea as a matter of fact it should be regulated by the Federal reserve basically it should be regulated by the government so we don't have to deal with this and one reason why I say this is simple with the wait it's going to be structured out it's simple I think the central bank digital coin system it's probably going to work out great but Central Bank digital currency would work wonders for people like that as a matter of fact I've heard of that project to start rolling out this year because of the plan to basically start out with low income and fixed income people who really need the money and basically what's going to happen is what I think is we're going to start seeing monthly payments through those basically. However, this is going to be good for everybody since the pandemic has just about ruined everything. And what happened in the Bahamas with their bank system that was destroyed by the pandemic thank God they're digital currency works well let's see what our digital dollar works here with the digital dollar project. As a matter of fact I would like to see the digital dollar project go even further. But as far as people who are unbanked and don't have a cell phone I think it's time to give those people a digital dollar prepaid credit card basically what it will actually mean is that their purchases will be safe from harm. Now as far as us tracking our purchases that would be good. I do that all the time with my purchases with my regular credit card. But basically what's going to end up happening is with my three cards I use my bank and two prepaid debit cards they're okay. But, the cbdc is going to change all that. As a matter of fact we could say goodbye to cash forever. And basically that'll be great too. And what cbdc does is very simple it's going to stop a whole bunch of fraud it will stop the homeless from begging on the street to go get cash itself and hopefully they'll have something instead of cash like a digital means getting their money. And basically it will also stop Banks from being robbed. Because I'm tired of hearing on the news about Banks being robbed. And that's what I'd like to see about the he he or whatever they call it yeah the Central Bank digital currencies and I think what needs to be done here I think we'll have to look at it. So let's see how this plays out and we'll see what happens next!
This is not the first time i am hearing of Mrs Mrs Cynthia Solomo and her amazing trading skills but i have no idea how to get her.
Wow, amazing to see others who trade with Mrs Cynthia Solomo. I'm currently on my 5th trade with her and her portfolio has grown tremendously
I make huge profits on my investment since i started trading with mrs Cynthia Solomo , her trading strategies are top notch coupled with the little commission she charges on her trade
I find it funny that people are rushing to buy or sell crypto in general just on hearing Elon tweet, despite the recent challenge at 40k(USD) for market value. The truth is, Bitcoin is way bigger than anyone in the world currently, this is merely a start to the rise of btc and crypto in general this year. What i'm trying to say is, btc is bigger than Elon and would sooner than later see better figures irrespective of his purchase.This is the very reason I am focused on accumulating more btc by way of trading with high indicators and expert signals I use for personal trading from pro trade analyst chen I'll admit it, His guide has been the reason I've gotten 17 BTC in portfolio trading since march. he can be contacted on Tele-gram (@chentrading1) for crypto-inclined challenges issues..
you know if they put the software in flash drives and had the crypto miner on a website where you can just load the money on your bank card and had each crypto worth $200 and not change the price the us could sell the flash drives for $30 and alot of people world buy them
nice video, Mrs Patricia has shown me the better way of trading, I am blessed coming across her contact, her strategies are recommendable
Great content. Everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns. I started investing in bitcoin mid November 2019 with the help of a well-known professional, Mrs Gabrielle Doreen and the profits almost entirely funded my recent duplex.
Nice video I so much love it…… most people remain poor only because friends and relatives discouraged and advised them against investing and trading forex while the wise ones kept investing and going higher financially
Good day everyone I'm new to forex trade And have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong
On another note: Look at all the Nigerian 419 Scam Artists hawking BitCoin investments now!
I can tell just by the syntax in their posts. And how everyone’s surname is a given name.
Charles Jacob etc……
The Whole point of BitCoin is it’s ceiling. The Fed has proven time and time again that they’ll smash right through the ceiling.
Why would anyone pick FedCoin?
Oh wait. Because they can screw the Chinese held Debt over by just creating a new fiat currency.
This is an excellent video, investing in crypto is the best any one can think of especially with the current rise in stock market. But the forex market is not easy for newbies and requires a professional broker in other not to encounter losses.
What do you think about ChihuaToken – token $CHIHUA?
The first time I saw a objective on twitter, about developing the best community driven meme coin. I click the take part button immediately. I'm waiting for this one!
Crypto market is be coming more appealing to investors seeking low-correlation assets that diversify portfolios, with no doubt in mind that we are not only going bull with little signs of stoppn. I'd say it's outrightly wrong to just sit back hodl and wait maybe incur some losses along the line, that's a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins thereby making prof!ts should be the way of life, even experienced traders are in a doubt to take long or short position, The conditions of this bull market are unlike anything we have ever seen. I got this tips first hand from Raymond Anthony, He’s always a step ahead of other traders, he fully monitored all my trades to avoid me making mistakes and losing my money. My earnings has increased dras tically from 10.1 Bitcoin to 48.7 Bitcoin in just 2 months and some days. I've full confidence in his tradn abilities. You can easily get to him on ᴛᴇʟ ᴇɢʀᴀᴍ[Raymondsam01]
The rich remain rich by spending less but investing more while the poor remain poor by spending like the rich yet know investment.
A great video indeed successful people don't become that way overnight what most people see at a glance-wealth, a great reward, purpose is the result of investing with a trustworthy broker i know Mr Michael Tyler he is reliable, sincere and reputable trader
America should not support nor buy into Cryptocash seeing that is highly volatile. Un order to create Cryptocash you must recognize other Cryptocash which is what China wants
The world reserve status of the US dollar will get even BIGGER with a digital dollar. Working people in India, Africa, and the rest of the world will use US digital dollars for all payments because it will be faster and more reliable than other currencies. Instead of the 'petro' dollar it will be the next generation of the digital dollar.
Thanks for this great video, i must say it's really helpful. I was leaving on average financial income until i invested with a professional broker Ms Kathryn Bradley. Life have been better afterwards.
Trading with an expert in the field is the best , I have been making a huge return from my investment. Since I met Expert Mrs Richard
geniuses college educated listen up from a high school mexican drop out ok if and when this digital $ occurs its good bye to us as our incomes will be controlled not by us but by them fed,
This is a Nice video…. So inspiring but do anyone knows about expert Mrs Maria. Mrs Maria Jones is legit and her method works like magic I keep on earning every single week with her new strategy
Investing in Bitcoin is the best investment anyone can do this year 2021 because Bitcoin investment has made a lot of people millionaires
Hi everyone I'm new to crypto trade and have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what I'm wrong