Dont Be Fooled by eCash

in hive-100421 •  2 months ago  (edited)

▶️ Watch on 3Speak


Governments and monetary authorities are terrified by Libra and crypto in general. But don't be fooled by e-this and e-that. We already have digital money. 88.4% of USD are just digital entries in databases.

What makes crypto actually crypto is the blockchain tied to digital money. Do not accept fake substitutes!

Reference article: https://cointelegraph.com/news/swedens-central-bank-to-partner-with-accenture-to-launch-e-krona
M2 definition: https://www.investopedia.com/terms/m/m2.asp
M2 chart: https://fred.stlouisfed.org/series/M2
Currency in print: https://www.federalreserve.gov/faqs/currency_12773.htm


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I agree, a potential Libra will pull in a lot of people to online transactions and open the doors to better solutions, like Steem for example. It is hard to keep up the faith after the past two years but I still believe there is plenty of potential for what we have here. Might look very different from what it is now though, in 3 years from now. Less upvotes, more app power.

I've been saying for several months now that I think the only way steem can work is as a utility infrastructure that runs behind the scenes for apps like TalkingPoint.

I think that is the future.

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