US Launching Controversial Payment System
The U.S. central bank is launching a payment system that critics view as a government attempt to control Americans’ expenditures and a trial run for a controversial digital currency.
FedCoin
Federal Reserve’s Digital Dollar Push Worries Wall Street
Banks, credit card companies and digital payments processors are nervously watching the push to create an electronic alternative to the paper bills Americans carry in their wallets, or what some call a digital dollar and others call a Fedcoin.
Will the Coronavirus bring the end of cash? Could this crisis introduce Central Bank cryptocurrencies?
The ongoing spread of the coronavirus has spurred government agencies to warn its citizenry against the use of paper currency and coins. Meanwhile, Central Banks around the world are considering the use of cryptocurrency in the future.