RE: Daily Crypto Markets Live Blog: Fed Vice-Chair Talks CBDC (05/27/22) by taskmaster4450le

witnesses

RE: Daily Crypto Markets Live Blog: Fed Vice-Chair Talks CBDC (05/27/22) by taskmaster4450le

View this thread on: hive.blog | peakd.com | ecency.com

Viewing a response to: @leomarkettalk/daily-crypto-markets-live-blog-fed-vice-chair-talks-cbdc-05-27-22

hive-167922 · @taskmaster4450le · May 27 '22

$0.06

The Fed Vice Chair offered some good news.  We have a window according to her to outpace them with development.

* [Creating CBDC Would Take At Least Five Years: Fed Vice Chair](https://cryptobriefing.com/creating-cbdc-would-take-at-least-five-years-fed-vice-chair/?utm_source=feed&utm_medium=rss)

5 years is a long time for us to develop things.  It is time to kick it into overdrive.

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👍 rtonline, whatsup, magnacarta, laucanh21, manosal, manima, kevinvinke, cetccarloshihi, leoguuu, jorhefelix, julievu

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@acesontop · May 27 '22

$0.02

If that was the only problem regarding freedom and privacy. 

https://www.zerohedge.com/technology/who-treaty-tied-global-digital-passport-and-id-system

you're right, though, five years in crypto is a lot of time and circumvention can happen. It's still a hell of a battle. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@acesontop/re-taskmaster4450le-4jxs7f)

👍 dustbunny, magnacarta

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@ekotmordemy · May 27 '22

Yeah five years is really a long time, if we kick into the overdrive, it will be worth it

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ekotmordemy/re-taskmaster4450le-tpw3m)

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@jfang003 · May 27 '22

Yea 5 years is going to be a long time and even 6 months is pretty long already in the crypto space.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-taskmaster4450le-5w8xab)

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@rtonline · May 27 '22

>She acknowledged there were risks to creating a CBDC, but pointed out there were also risks in not creating one.

Which risk is greater? i Of course not to create.

5 years is a long time isn't it? Why is it so hard?

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rtonline/re-taskmaster4450le-5vdccu)

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@ekotmordemy · May 27 '22 (edited)

i do believe, there are things we are not doing that should be done

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@rtonline · May 27 '22

There's definitely a lot. We are still at a very early stage.

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@jfang003 · May 27 '22

First off, they need to understand the technology then they got to deal with all the rules/laws they already have.

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@rtonline · May 27 '22

Understanding technology and dealing with rules/laws may seem difficult, but the solutions are simple. Every country has experienced and expert people, it will take less time when help is received from them. 5 years seems like a long time to me.



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@magnacarta · May 27 '22

Maybe they haven't figured out scaling?  This isn't the same thing as keeping Social Security account data since not much happens with that.  And this was enough to be a subplot in _Live Free or Die Hard_ (2006).  This is tracking every transaction by each and every person.

There may also be concerns unique to CBDCs which don't exist in the cryptocurrencies we know about.  What these concerns would be escape me. 

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@rtonline · May 27 '22

She's already raising concerns and saying it's riskier not to create. I think they have a lot to learn about implementation and technology. But I was still wondering what was the reason behind it taking so long.

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2 replies

@rzc24-nftbbg · May 27 '22

They are very fast!

!LOLZ

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@ekotmordemy · May 27 '22

Do you really think so?


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@ekotmordemy · May 27 '22

should we see that to be a plus, i see with you

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2 replies

@rzc24-nftbbg · May 27 '22

You know the bureaucratic process has its own way to delay things. Nothing new. The more they delay, I think that's more advantageous for us in the crypto space.

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@jfang003 · May 27 '22

5 years is a long time. There are ways to speed up the process but they aren't very interested in doing so.

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@rzc24-nftbbg · May 27 '22

Once they are done with their CBDC, perhaps we are already on DeFi 4.0 🤣

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@lolzbot · May 27 '22

<div class='pull-right'><center><img src="https://lolztoken.com/lolz.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p><br><br><br><br></center></div><p><center><strong>My roommate keeps saying that our house is haunted.<br>But I've lived here for last 216 years, and haven't heard anything unusual.</strong><br><sub>Credit: <a href="https://peakd.com/@reddit">reddit</a></sub><br>@taskmaster4450le, I sent you an <a href="https://hive-engine.com/?p=market&t=LOLZ">$LOLZ</a> on behalf of @rzc24-nftbbg</a><br>Use the <strong>!LOL</strong> or <strong>!LOLZ</strong> command to share a joke and an <strong>$LOLZ</strong>.<br>Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards.  <a href="https://peakd.com/@lolztoken/introducing-lolz-defi-now-you">Learn more.</a><br>(1/2)</center></p>

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@yeckingo1 · May 27 '22

The bureaucracy as fast and efficient as ever, it shows that they like their job or at least the salary.

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@ekotmordemy · May 27 '22

I quiet agree with you

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ekotmordemy/re-yeckingo1-2m6gsb)

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@ifarmgirl · May 27 '22

Perhaps both :)

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ifarmgirl/re-yeckingo1-vcej4)

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@jfang003 · May 27 '22

Both. There are way too many things in the government that are just there to take up time and I don't see it adding much value.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-yeckingo1-2chggs)

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@ekotmordemy · May 27 '22

i do believe that time will heal, let just stay focus 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ekotmordemy/re-jfang003-2hrksi)

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