@rezoanulvibesOnNoiseApp
Crypto exchanges are not banks. They are supposed to act like brokers. But when crypto exchange acts like banks and brings fractional reserve banking to crypto exchanges, it ends up pretty bad. It triggers the bank run when the customers see they cannot get the fund if they don't withdraw right now, they will rush to withdraw everything from the crypto exchange. Many countries are working on launching Central Bank Digital Currency, CBDC. This is not a myth, it's reality. China tested Digital Yuan and working on how to move forward from that point. Nigeria also tested the digital version of its currency and launched the eNaira. Many other countries are experimenting to launch digital versions of their fiat currency that gives them complete control.
7 comments
Is it a bad thing that i'm against CBDC?
Privacy is people's right. CBDC will take that away. People who know what they intend to do with CBDC cannot support this.
That sounds bad news.
🤐
Interesting 🥰🥰
I can confirm this from where I live. We are also moving in this direction
At some point, maybe we will have to use CBDC. Before that, what time we have, we should focus on building assets outside the traditional financial system.