2 years ago

942

#xlm #cbdc #conspiracy
🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/
🎁 For Traders: $140 Bonus + My $4k Comp 👉 https://guy.coinbureau.com/trading-co...
🛒 NEW: Check Out My Merch Store 👉 https://store.coinbureau.com
📲 Coin Bureau Insider Channel 👉 https://t.me/cbinsider
🐦 Follow Our Twitter 👉 https://twitter.com/coinbureau

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

- TIMESTAMPS -
0:00 Intro
2:26 IMF Meeting
7:37 The FED and CBDCs
9:00 USDC = CBDC?
13:10 CBDC blockchains
16:00 CBDC on Stellar?
18:36 CBDC Conspiracy
22:35 Final Thoughts

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

⛓️ 🔗 Useful Links 🔗 ⛓️
► Dollarization Explained: https://www.investopedia.com/articles...
► IMF Cross Border Payments Discussion ft. Stellar and Celo: https://www.youtube.com/watch?v=k4DnFel1sHA
► IMF Cross Border Payments Roadmap (4th discussion): https://www.imf.org/en/News/Seminars/Conferences/2020/10/19/cross-border-payment
► USDC 2.0: https://medium.com/centre-blog/centre-consortium-announces-release-of-usd-coin-version-2-0-37ee8b27e09b
► Circle Sells Assets To Focus On Stablecoin Tech: https://medium.com/centre-blog/centre-consortium-announces-release-of-usd-coin-version-2-0-37ee8b27e09b
► Panel Discussion from March 2019 ft. Stellar and the FED: https://www.youtube.com/watch?v=vjbJWr17eE0

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

👨‍💼IMF Meeting👨‍💼

The International Monetary Fund held a series of seminars on October 19th focused around building a roadmap for the “New Beginning” of currency. After being spooked by Libra, the IMF is scrambling to help governments around the world fast track their Central Bank Digital Currency initiatives. The IMF envisions a vast network of interoperable blockchains which will host these CBDCs.

⚖The FED and CBDCs⚖

Although over 80% of the world’s central banks are planning to develop a CBDC, the United States Federal Reserve has repeatedly stated that it has no plans to develop a CBDC. This is odd given that the US dollar is the world’s most popular currency – it is the world’s reserve currency. It might be possible that one of the reasons why the FED has no plans for a USD CBDC is because something similar to one already exists.

👀USDC = CBDC?👀

USDC is one of the top stablecoins and is the fastest growing stablecoin. Circle, the company which created it, joined forces with Coinbase in 2019 to create the Centre Consortium which focuses around the development and adoption of USDC.

The Centre Consortium has been explicit in its intentions to work with governments around the world to provide the technology required to build CBDCs. Both Circle and Coinbase have also worked closely with governmental authorities in the United States, suggesting that USDC may be a precursor to the USD CBDC which will eventually be rolled out by the FED.

🔗CBDC Blockchains🔗

Governments and central banks around the world have been looking for the best blockchains for their future CBDCs. They are considering both private and public blockchains, including cryptocurrency blockchains. Given that cryptocurrency blockchains are probably much more efficient due to the intense competition in the space, it seems possible that they will triumph over other private sector alternatives. The fact that Celo and Stellar were asked to speak as panelists with the IMF further supports this possibility.

💰CBDC on Stellar?💰

During the recent IMF panel, Stellar CEO Denelle Dixon stated that Stellar is looking to provide blockchain services for the purpose of building CBDCs, and noted that USDC is the “glue” required to build CBDCs. USDC will be launching on Stellar in January 2021.

In addition to speaking at the MF panel, Stellar co-founder Jed McCaleb also once shared the stage with Michael Warner, a member of the Federal Reserve Bank of San Francisco. During this discussion, Michael turned to Jed and asked him how he would build a CBDC on Stellar.

🕵️‍♂‍CBDC Conspiracy🕵️‍♂‍

Taken together, these facts suggest that USD CBDC will be built on Stellar using the Centre Consortium’s USDC stablecoin technology. This is assuming the January 2021 launch goes well. In the meantime, the United States may be benefitting from the increasing dominance of stablecoin use in the cryptocurrency space.

USD stablecoins are the second most popular choice for cross border transfers after Bitcoin, and assuming their use has been increasing for this purpose, it could lead to dollarization while other countries drag their feet with their CBDCs.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Crypto #stablecoin #cbdc #stellar #usdc #conspiracy #xlm

Loading 1 comment...