IMF Has Just Unveiled A New Global Currency Known As The “Universal Monetary Unit”

a reply to: AugustusMasonicus

Your response to me was completely irrelevant. You misconstrued my entire point. And you were mistaken. But instead of admitting your error, you doubled down and clapped back in uncontrolled fervor just like I predicted you would. It appears my assessment was spot on. Pretty entertaining though..

originally posted by: socialmediaclown
You misconstrued my entire point.

Your point was that there was going to be a 'centralized global digital currency'. You were very, very, very wrong.

It's okay, buckaroo, it happens.

a reply to: AugustusMasonicus

My point is that we're transitioning to a global digital economy.
You said it can't happen. We'll see who's wrong.

Central Banks Successfully Test DLT in Linking Financial Settlement Systems

A central bank experiment has successfully tested the use of distributed ledger technology (DLT) in running large and complex interbank transactions, according to a report released on Wednesday.

The Bank of England ran "Project Meridian" through the Bank for International Settlements' (BIS) London innovation hub to build a prototype that could potentially speed up and reduce costs of transactions in central bank Real-Time Gross Settlement (RTGS) systems.

The project used DLT to link the central bank’s RTGS system "with other financial market infrastructures and ledgers automatically orchestrating the exchange in ownership of funds and assets in a resilient and secure way," according to a statement issued by BIS, which groups the world's central banks.

DLT systems that help keep records of and verify crypto transactions have inspired innovation in traditional finance, with banks around the world exploring how the technology could potentially improve the efficiency of interbank transactions or even power digital versions of sovereign currencies. However, a senior official at the Bank of England warned lawmakers in February that DLT may be too clunky to power a central bank digital currency (CBDC).

Meridian is one of several projects by the BIS Innovation Hub dedicated to examining new developments in fintech, from decentralized finance to CBDC systems.

www.google.com... tputType=amp

originally posted by: socialmediaclown
You said it can't happen.

I said you won't see a 'centralized global digital currency' since one doesn't exist and no sovereign nation is giving up their currency for one.

a reply to: AugustusMasonicus

It's an odd behavior trait in people who refuse to ever admit they're wrong.... they'll continue harping on incessantly about inconsequential minutiae as a way to save face. In 3 to 7 years from now, when your RWA are tokenized, you've got your digital ID and you're making purchases using DC... you'll still be self-soothingly muttering to yourself, "But it's not a global centralized digital currency!"..


They did warn me that humans are clinically insane...

originally posted by: socialmediaclown
In 3 to 7 years from now, when your RWA are tokenized, you've got your digital ID and you're making purchases using DC... you'll still be self-soothingly muttering to yourself, "But it's not a global centralized digital currency!

No, it won't, it will be a US Treasury-issued currency called, wait for it, the dollar. And you'll be lucky if it's in that time frame.

a reply to: AugustusMasonicus

I realize some people have a difficult time adapting to change. Newfangled technogadgets can be scary. Especially for someone who uses the pejorative term "buckaroo". You'll be okay.

originally posted by: socialmediaclown
I realize some people have a difficult time adapting to change.

I see that, it's kinda obvious when they can't even get the fundamental aspects of the topic correct and bring things up like a non-existent 'centralized global digital currency'.

Don't worry, when and if this thing rolls out I'll be right there helping to do the rolling.

a reply to: AugustusMasonicus

"It's non-existent but I'm going to roll it out if it exists."

Makes sense, Buckaroonie

a reply to: socialmediaclown

You should work on your reading comprehension, "when and IF"...

a reply to: AugustusMasonicus

"It can't happen, it won't happen, no such thing, non-existent, fake, phony, made up, a DREAM, no sovereign nation will go for it" asserted over and over again over the course of nearly 24 hours...
"But if it DOES happen, I'm going to help roll it out"

Make it make sense, Buck.

Edited spam

originally posted by: socialmediaclown
"But if it DOES happen, I'm going to help roll it out"

That exchange platform in the Original Post is something I will be 100% involved with if our sovereign customers participate. The made up process you created, not so much.

a reply to: AugustusMasonicus

youtu.be...

a reply to: socialmediaclown

Can't open it.

a reply to: AugustusMasonicus

Oh. What a shame...

a reply to: socialmediaclown

I guess if it were important you would have been able to articulate it yourself.

a reply to: AugustusMasonicus

I guess so 🤷‍♂️

I've heard about it, but haven't read all the details. But I'm not really surprised that something like this happens, because technologies develop fast, and it affects all aspects of our lives and just everything in general. So I think such digitalization is just a matter of time. I'm interested in finances, and technologies, and can say that more and more companies and banks implementing fintech in their systems. A few days ago I was reading some information online and came across this article about cross-border transactions and money exchange, and found out that one of the ways to do it is with the usage of cryptocurrency or digital wallets. I think that it may be a positive thing because it allows you to do such transactions fast and at any time you want. I think that in the future we will have more digital asset technologies in different financial institutions, and not only there, but it can be beneficial. I'm sure that such a "system" won't be perfect, but I need to do some more research to form a more complex opinion.