And, we are to believe that the US is NOT tracking individual electronic transactions currently (through ACH, card networks, etc.)?
IMO, the US is in danger of falling significantly behind as China, India, the EU and other Asian countries interlink their own CBDC. Once they start denominating their (smaller) transactions using other digital currencies, it will snowball and there will be no turning back. By then, the US CBDC will be too late.
08 Mar 2024 16:45 Read comment
In any country with an authoritarian government/head, there are no protections; so it is futile to discuss this in that context.
In democratic countries, where laws can be established apriori, a set of controls can be established to prevent such failures. However, it is important to remember that not all anomalies can be recognized and addressed apriori. Diligent policymakers will continue to reinforce those protections regularly and fill gaps when identified and where necessary. Witness what the EU is doing with its laws: GDPR, PSD, DMA, etc.
It still needs to be said, that unless consumers/citizens vote with their wallets/votes, even lawmakers and laws can be subverted. Caveat Emptor!
30 Jan 2024 16:47 Read comment
If voters accept initiatives that must be completed in one election cycle, then they will get the government and life they deserve, Ketharaman. Some of humankind's greatest accomplishments far outlived the innovators' lifetimes - for which all of us should be grateful. Thanks for your thoughts.
30 Jan 2024 11:31 Read comment
Shane OHaraCTO at AXLPay Mobile Payments
Sreenivasulu AnanthaCTO at Shotformats
Sebastien PochicCTO at ellipse inc.
Julian NalenzCTO at Divizend GmbH
Erol KayaCTO at Abu Dhabi
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.