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

a reply to: ancientlight

well....... GOLD will be tangible and value rises
as time goes by

cbdc is a handful of 1's and 0's can be erased,
accidentally changed,, or go !!POOF!! when the power goes out,

not to mention their creator can suddenly say
they are worth 20%less today... because,.......
economics, analysists and bankers
lost it gambling

originally posted by: IndieA

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.

Doesn't change the fact that it is not a CBDC (CitiBank is not a Central Bank for one thing).

Nor does it change the fact that banks are starting to apply for and be granted licenses to hold digital assets like bitcoin (and other crypto #coins).

CitiBank just wants to use their own? No problem. The question is will anyone really want it.

Oh - and there is ZERO evidence that anyone's funds have been converted without the customer asking for it.

a reply to: tanstaafl

You are correct.

Every one is saying digital currency is less reliable than dollars. Dollars have only relied on faith to back then up for many years because they are no longer backed up by gold or silver holdings.

www.bitchute.com...

I would encourage everyone to watch this video. Because when the man talks about knowing what Bitcoin is, 20 years in advance, and how there’s a back door to all of these things, it got my attention. While this may be off topic, and I apologize in advance for that, there are some insights provided about banks, crypto, and tokens. Please watch at your own risk.

Yes, but the difference between a piece of paper, and a bunch of pixels on a screen, is that if the power goes out, you still have the paper. Even if it’s not backed by anything.

Though I would tell people to invest in precious metals, and have a diverse portfolio of such. a reply to: beyondknowledge2

a reply to: IndieA

ATS is much like CBDC/Banking in some regards
Its so far removed from its original intent and purpose that some people just don't want anything to do with it.
Others embrace it, unaware of its detrimental aspects
Some utilize it as a tool but with no real investment in its future while others are simply too distracted or uncaring to learn about it and just go along with the herd

CBDC is bad. I thought it was explained to me pretty well courtesy of my neighbor: I'm paraphrasing a bit: "[It could mean further taxation on digital currencies, so you'd be paying them a certain amount just to use your own money]". Whether it is worth more than paper money or not, the point is the banks / fed don't need to touch it. Maybe the bitcoin market has a chance of bouncing back, but not if the fed gets hold of it.

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.