The U.S. ‘nonprofit’ Digital Dollar Project said on Monday it would launch five pilot programs over the next 12 months to test the potential uses of a U.S. central bank digital currency, reports Reuters.
The private-sector pilots will initially be funded by Accenture Plc (ACN.N) and involve financial firms, retailers, and NGOs, among others. The aim is to generate data that could help U.S. policymakers develop a digital dollar.
Global Banking Giants and the New York Fed are testing the digital dollar in a 12-week pilots.
Citigroup, HSBC, Mastercard, and Wells Fargo are among the financial companies participating in the experiment. According to New York Fed, the project, which is called the regulated liability network, will use simulated data.
The government will know what you have, where you have it, and how you are spending it. It will eventually replace the dollar. That’s the plan. Do you trust the big government with this knowledge?
The bankers are talking about money that has expiration dates. They could stop bailouts and just seize your money.
This is a serious threat to freedom, and the people who represent us no longer care about what we think or want.
Privacy and control of your money are all on the line with CBDCs. The devaluation of the dollar will continue.
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