by Gerry Allan | May 10, 2023 | Future, Managing
Bank-based digital money is happening. Right now. Like it or not. It claims to offer convenience, instant transactions, safety, and simplicity. The Federal Reserve’s FedNow payments service goes live in July 2023. Is this digital money? How does it work? What happens next? Should we be concerned? Maybe, maybe not. Like so much else these days, it depends …
by Gerry Allan | Jan 18, 2023 | Future, Managing
Cryptocurrencies are not money but just a transaction mechanism. They have no proven safe store of value. They are collapsing, for reasons. Luckily, central banks just so happen to be ready to rollout out their CBDCs, which are not money either. CBDCs are only a payment mechanism linked to wonderful fiat currencies, like the US dollar, but they will save the monetary system. Or maybe not.