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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Wednesday, 26-Oct-2022 23:34:20 EDT lnxw48a1
   In a discussion about #CBDCs (Central Bank Digital Currencies), I popped in, posted this description, and then got back out.
   
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   governmentally issued electronic money that only has value if it meets the following: 1. It must be spent BY the designated person or persons. 2. It must be spent ON allowed or specified products and services. 3. It must be spent BEFORE a specific date and time.
   4. It MAY have other limitations, such as geographic restrictions or only spendable at certain vendors.
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   I note that a CBDC has little or nothing to do with #blockchain (at least the interesting parts around distributed consensus and distributed governance) . Electronic currencies probably date back to some of the first online multiplayer games, if not to credit card processing, so much of that has been explored for decades.
   
   I have seen headlines about Congress pushing the Federal Reserve and Treasury to test a CBDC soon, with an eye toward having a viable "digital dollar" before other major economies can use their own CBDCs to upend and replace the dollar.
   
   !econusa
   1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Thursday, 27-Oct-2022 00:27:07 EDT lnxw48a1

      in reply to
      The proposed ECASH Act is probably behind these discussions. https://nu.federati.net/url/288238 [www computerworld com]
      
      #ecash #cbdcs #digital_currency