So what does this mean: Citi Bank Converts Customers' Deposits Into Digital Tokens

I'm unsure if this is CBDC? Sounds like it at least, and within Citi bank.

Someone in the comments said that Florida , Texas, and Indiana banned digital currency?
Which is great off course , but I'm still stressing about this as my trust for the government is 100% gone at this point due to all corruption and WEF infiltration.

What do you guys think?

no
no
no

a reply to: ancientlight

I think customers who don't move their money immediately are screwed.
Converting cash to digital coin is just the same as getting company script like Coal Miners did 100yrs ago. There has been no mention of will stores accept Citibanks digital coin? Gas Stations? You get the drift.

Sure the dollar since we went off the gold standard is pretty much worthless but it is accepted everywhere.
Does this indicate the Fed can't print out whatever amounts anymore so it's go digital or the country goes bankrupt?

a reply to: ancientlight

“Digital currency pilot program” — AND SO IT BEGINS.!

a reply to: ancientlight

this is just another service they are offering to big companies for now, their not changing joe and suzy sixpack's accounts to digital tokens yet.
it's more then likely coming, still to many obstacles to in the way.

Citi Treasury and Trade Solutions (TTS) helps enable our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions, and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury, trade, and liquidity management solutions.

Citi Develops New Digital Asset Capabilities for Institutional Clients

Seems to me that there are more groups participating than not. This article is from the beginning of the year: from January but I think it is somewhat relevant information for those of us just figuring this stuff out.

www.americanbanker.com...#:~:text=BNY%20Mellon%2C%20Citigroup%2C%20PNC%2C,the%20U. S.%20needs%20a%20CBDC.

I love Ron De Santis

CBDC banned in Florida

“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” said Governor Ron DeSantis. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”

And they're right. CBDC's control will stifle innovation and demoralize us further. What would be the point of trying harder, studying more years to become an MD , working longer hours etc . None of that would be worthwhile anymore.

a reply to: ancientlight

Where's Augustus? I'm sure he has a very benign explanation for this. Lol.

originally posted by: ancientlight
I love Ron De Santis

CBDC banned in Florida

“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” said Governor Ron DeSantis. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”

And they're right. CBDC's control will stifle innovation and demoralize us further. What would be the point of trying harder, studying more years to become an MD , working longer hours etc . None of that would be worthwhile anymore.

Why not? It’s not as if everyone will be on the same salary.

originally posted by: Ch1nch1lla
a reply to: ancientlight

Where's Augustus? I'm sure he has a very benign explanation for this. Lol.

I believe that he was removed from the site, during the great purge.

He was our CBDC insider, and although I frequently didn't agree with him, his knowledge and insights are missed.

a reply to: IndieA

You think so? That’s interesting but surely anyone can just create a new email address and from there a new ATS account?

The new gambling scam of the globalist and the banking mafia, your money will not be money anymore, but tokens.

People needs to get up their arses and start boycotting this scam.

a reply to: marg6043

I recently learned from Coinbase, that the USDC stable coin they operate and allow user's to freely exchange with dollars, is NOT legal tender, nor is it insured in any way. USDC is considered a digital currency.

a reply to: IndieA

Nothing the banking mafia and globalist do is for the benefit of the consumer, tax payer and working human beings, is all to enrich their pockets unrestricted by any laws, because they circumvent them.

originally posted by: surfer_soul
a reply to: IndieA

You think so? That’s interesting but surely anyone can just create a new email address and from there a new ATS account?

I did see them briefly return under a similar name, but it seems like some of our old members are missing for good.

Maybe ATS is using IP addresses to help keep banned members off of the site.

a reply to: IndieA

You can get around IP addresses using a VPN, also they can’t seem to keep the constant spammer from popping up and posting, they just remove the posts.

I’m really curious why long term active members would just disappear altogether as it seems almost like a purge as you suggested. I know there are other possibilities it just seems odd.

Back on topic, screw the banksters and their debt/slave system. If only decentralised cyrto was a stable alternative.

So that is.... really weird and kind of stupid.

I just read into it and it's primarily for rich customers for asset trading and money transfers across borders. Essentially it's a solution to a self induced problem, by way of eliminating wait times for money transfers to different countries (which banks do to themselves for some reason).

originally posted by: ancientlight
I'm unsure if this is CBDC? Sounds like it at least, and within Citi bank.

Nope, not a CBDC.

Banks will be and are getting ready to be able to custody and transact in digital assets, like bitcoin or other #coins aka 'cryptos' - that is all this is.

originally posted by: tanstaafl

originally posted by: ancientlight
I'm unsure if this is CBDC? Sounds like it at least, and within Citi bank.

Nope, not a CBDC.

Banks will be and are getting ready to be able to custody and transact in digital assets, like bitcoin or other #coins aka 'cryptos' - that is all this is.

The digital asset that they are using is owned and operated by Citibank.

The private/permissioned blockchain technology used is owned and managed by Citi and clients will not be required to host a blockchain node to access the services.

source

They are utilizing smart contracts, so payments will be able to be made as soon as funds become available.

The pilot demonstrated programmable transfer of tokenized deposits that provided instant payments to service providers via smart contracts.