Kriptokoin.com –Trader and Youtuber Tone Vars say that the US’s digital dollar proposal is not different from the current system except for the country’s ties with federal reserves.
“There is nothing new in this,” he said in his Youtube video on March 24th, “There is nothing technologically in this,” he referred to the US Digital Dollar project.
“The only difference is that there is a transition process from the Fed as if the Fed needs more responsibility”
The government’s last digital dollar draft
Recently, an attempt to help the sinking economy emerged on 23 March that proposes a partially digital US dollar. In the draft, the digital dollar emerges with a digital wallet and aims to facilitate payments for people who need financially.
In this two -part project, the drafts of Maxine Waters, the President of the Financial Services Committee and Nancy Pelosi, the Speaker of the Assembly were seen.
If you want to get more information about the Digital Dollar, you can examine our news for Bitcoin?
There was no progress in technology
VAYS, the only difference from the existing system, citizens are rather than private banks directly from the Federal Reserve, he said.
“We already have a digital dollar, Vars Vays explained. “Now ninety -nine percent of all the money is digital,” he referred to the current economic system; No more physical cash.
VAYS also said that the digital wallet is not something new, but that PayPal is a kind of digital wallet: “When you hear the term ‘digital wallet’, it does not mean that it is about Bitcoin or cryptography,” he said.
Supporting VAYS, in any of the drafts, the word “blockchain” does not pass.
The only new thing is the Fed’s participation
Although there are no new technological developments in the incentive package, it includes the additional participation of the Federal Reserve. Instead of banks such as VAYS, Wells Fargo or Bank of America, he said, “Your money can be kept in the Federal Reserve,” he said
“This is a move to the nationalization of the Congress,” Trader said that this is an attempt to abolish private banking.
Tone Vays, despite the growth of the communist Russia, reminded of the Federal Bank.
VAYS showed this move as a negative movement, but he recorded as a positive situation in the long run for Bitcoin, an unidentified entity that cannot be controlled by governments.
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