RE: Your local Cryptocurrency

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Thank you for your reply. An elderly person wouldn't know much about cryptocurrencies, as much as a younger person knows very little about the end of the Brettonwoods system from 1971-1981, the oil shocks and the SAF. Specially the perennial inflation that caused an erosion of the value of money over time. It's interesting what a scarce decentralised digital asset can do to the US Dollar in a much shorter time, while most people ignore that the USD lost 97.60% of it's buying power relative to bitcoin in just 5 years.

Actually they don't enforce anything. Many people aren't aware of the ID tag labelled on their personhood. I don't even want to begin writing about potential biometrically-linked digital identity. Surely international EDI standards for cross border payment messaging that suddenly pop up when borderless cryptocurrencies already achieved the prospect of leveraging payments across borders? It could have little to do with control mechanisms if such a standard would flow down to financial institutions and then the corporates?(being ironic)After all the question is whether it affect their products which are consumers whi voluntarily to their bidding. Currently, electronic money we are accustomed to will just become digital. You Bank still remains the custodian and very few will ever question CBDC's. Most people don't like to take responsibility over their own private keys. They'd rather trust a third party. If you loose your card, the bank just gives you a new one? Depending on where you live, owning decentralised digital assets might be deemed illegal, their exchange prohibited by law, while other countries will allow for certain grey areas for their use. The topic in discussion is also censorship. As you mentioned it surely deserves a dedicated post on phase 3 after the nixon shock 1971 with a mention of quantitive easing, the credit crunch etc. just babbling on here, but thanks again for commenting buddy.



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