Web 3

The Web3 Version of Slack

TL;DR

  • The U.S. Home handed a invoice that seeks to ban CBDCs (aka centralized gov. owned crypto that may be ‘switched off’)…now it simply must get by the Senate.

Full Story

You already know these recurring nightmares all of us have?

The one the place all of your family and friends are caught inside a burning constructing, whereas nobody is heeding your calls that can assist you assist them?

No? Simply us. Bizarre.

Nicely, we really feel the same type of panic after we take into consideration Central Financial institution Digital Currencies (CBDCs).

Should you’re unfamiliar with the thought of CBDCs, the fundamental gist is that this:

It’s a authorities owned/issued US greenback stablecoin.

Which, on the floor, sounds innocent — but it surely opens the door for some fairly dystopian ideas to weasel their means into our actuality.

The most important and most regarding being:

A centralized programmable cash would enable the federal government to primarily ‘swap your cash off’ (to not point out observe each cent you earn/spend with no need to serve your financial institution a warrant).

We’re not saying they would, simply that they may — and that’s scary sufficient by itself.

The excellent news is:

Congress is preventing it! In truth the U.S. Home simply handed a invoice that seeks to ban CBDCs all collectively.

Now, it nonetheless must make it by the Senate, which is a taller job by comparability — but it surely’s value celebrating regardless.

Trigger it lastly appears like somebody (congress) is acknowledging the burning constructing that’s full of our family and friends (CBDCs).

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