Chairman of the Federal Reserve, Jerome Powell gave a testimony yesterday and during the questioning section, was asked about the Fed’s plans for digital currency in light of China, Libra and other countries and corporations making headway on implementing various systems.
The Chairman had a fair amount to say about digital currencies, saying that the fed is “taking a deep look” at digital currency.
It’s very early stages and there is not going to be any sort of fedcoin anytime soon, but the chairman did have quite a bit to say about privacy and the importance of thoroughly investigating these technologies.
In this podcast episode, I dive into the brief discussion of digital currencies and my opinions about how this (and other similar) conversation(s) impact Bitcoin and cryptocurrencies as a whole.
Links Mentioned in This Episode:
- https://finance.yahoo.com/news/fed-chair-jay-powell-grilled-on-chinas-cryptocurrency-plans-us-response-211840877.html (video and article)
Listen & Subscribe to the Steemleo Podcast!
Our Community
https://steemleo.com is an online community for financial content creators, powered by Steem and the LEO token economy.
- Learn more about our steem-powered community at https://steemleo.com/faq.
- Trade Steem-based tokens on Leodex at https://dex.steemleo.com
- Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com
▶️ 3Speak
I think another move for digital currency has been how ineffective international trade has become with so much having to go through the new york fed and the weaponisation of SWIFT has other nations looking for ways around it and ways to trade outside the dollar.
I think these currencies won't be for the people and more for nation-states to trade
That's definitely an interesting possibility. The main thing I see going on here is the creation of new tools & options which, in my opinion, is always a great thing for the bottom of the line consumers.
I hope to see the trend continue as we see more cryptos (and potentially these CBDCs) coming into existence and infrastructure is built to handle them as well.
Posted via Steemleo
they have seen or heard so many good benefits they can get via using digital currencies so they are thinking of exploring it i guess..
Posted via Steemleo
Soon, we'll see the top products brands from all countries of the world join crypto soon as the current market trends is making a difference in their very eyes.
Posted via Steemleo
Hi, @khaleelkazi!
You just got a 11.85% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
it is good that so many professionals are beginning to have a look on how they can benefit from digital currencies and its technology...
Posted via Steemleo
diving into the digital currency technology would add more benefits to the society and the work of the FED'S and it would also boost the popularity of digital currencies and usage,and that would give it more value...
Posted via Steemleo
they will get alot of benefits from it if they decide to make use of the digital currency technology...
Posted via Steemleo