Money>Fiat
Bank of America Warns: The U.S. Dollar Is on the Verge of Collapse
The U.S. dollar has long been considered the backbone of the global financial system — a symbol of strength, stability, and trust. But according to Bank of America’s recent warning, that perception is rapidly unraveling. The bank has raised alarms that the dollar is not just under pressure, but on the verge of collapse, after…
Read MoreReserve Bank of India to run digital currency trial
The Reserve Bank of India is looking at running a trial of a central bank digital currency. It is consulting with state-controlled banks and fintechs such as FIS on the project, according to a report by Coin Telegraph. “FIS has had various engagements with the RBI […] and, of course, our connected ecosystem could be extended to…
Read MoreFed Governor Touts FedNow as Alternative to CBDC
The Fed’s upcoming payment service fulfills many of the same purposes as a CDBC. Key Takeaways Governor Michelle Bowman said today that the Federal Reserve’s FedNow service could be ready by mid-2023. She suggested that the payments service addresses the need for a central bank digital currency (CDBC). She also said that the Federal Reserve…
Read MoreBread causing $10-per-loaf sticker shock as inflation surges
Bread prices are becoming another source of sticker shock for grocery shoppers during a period of decades-high inflation, according to a report. The price of artisanal bread and other premium options has hit $10 per 2-pound loaf at some grocery stores – turning a pantry staple into a pain point for consumers already facing financial headaches…
Read MoreBoston’s Federal Reserve says it has solved technical challenges of a ‘digital dollar’
It could settle payments in under two seconds and handle 1.7 million transactions a second. The US Federal Reserve is continuing its research into a “digital dollar” and has unveiled a technical specification for how it might work, The Washington Post has reported. Researchers designed a system that can handle more than 1.7 million transactions a…
Read More