Usa new currency digital dollar soon

[OpenCryptoSystem]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

[slapper]

Stop blabbering. How can we have a digital dollar while we can't even have a peaceful atmosphere recently. Moreover, the USA can not even defeat COVID-19 like other countries. There must be a long way that needs to be walked before having a digital dollar. Right now, we can not even ensure who will become the next president. Whether Biden or Trump will be the next since the fighting between them is happening intensively

I believe that China will be the first country to implement CBDC in their system. Currently, they are testing this technology in many places. This is both bad and good news for us. We want the digital currency to give us freedom and anonymity while Chinese CBDC is utilized to control citizens

[DooMAD]

while Chinese CBDC is utilized to control citizens

There's no need to single out a particular nation.  *Any* CBDC will be about control and surveillance.  Governments wouldn't perceive them to be worth implementing otherwise.

[blockman]

Usa digital dollar is coming soon

They have already it with the traditional payment processors like PayPal and with the use of credit cards. That's also considered as a digital dollar for me but maybe not for the others.

The  way to produce more currency it might be defi
Defi so yield farming will be new banking

No, it won't be the yield farming. We have already through our wallets such as btc wallet addresses. It's the quote that has been used already before by blockchain wallet.

[chrisculanag]

Usa digital dollar is coming soon

I think this time USA dont focus about this instead they need to fight the COVID19 to recover in the pandemic. But if new government in USA supporting the digital dollar as a money online for purchasing some goods and other needs and also can help to decreasing the spreading the virus.

The  way to produce more currency it might be defi
Defi so yield farming will be new banking

I dont know much about DeFi or decentralised finance , the only know is that Defi are automated agreements that dont need intermediaries like a bank and use only online blockchain technology.

[milesfull]

They will try to outperfom China in this. However, they will use their own blockchain, for sure. And this is not good for crypto industry in general

[sukmo]

Where did you get the news from? May I ask for a valid news link about USA will create a digital dollar.
If the news is true, then what are the latest developments about the news?

[fiulpro]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

But won't this digital dollar be 1:1 with USD? This doesn't really matter if they start a new digital dollar and peg it in the market when the price of bitcoins and eth is rising more then ever.

But it's not just USA but many countries, so if they start this it won't be as simple as them giving out a currency which is digital there will also be a matter of :

Competition.

They will try to outperfom China in this. However, they will use their own blockchain, for sure. And this is not good for crypto industry in general

Completion is always good but what's not good is :
Them trying to use unfair means , they will try and ban Bitcoins and other cryptocurrencies which means that they will indirectly force people to use their digital dollar.

But what would happen for real ??
They still have to try and compete with the market at the same time taking care of the riots and COVID. This should be actually last in the line to care about.
-they need to first stabilize the country and keep the USD value normal by once and for all deciding the stimulus stop and try and make everything normal.


If a person is trying to achieve economic freedom why would they choose a digital currency owned by the government in the first place ?

[Upgrade00]

they will use their own blockchain, for sure. And this is not good for crypto industry in general

In my opinion, the launch of a CBDC would not adversely affect the crypto industry, if anything it could be a positive as the public could see it as an endorsement of the blockchain if governments are utilizing it.
They'll also be targeting different markets; Bitcoin is mostly used an an investment, store of value and less as a currency (this could change in the future). A CBDC would ideally be a stable coin to serve as a digital form of fiat. Users of Bitcoin would hardly jump out simply cause there is a digital version of the cash in their pockets.

[DooMAD]

People seem to make a number of assumptions when it comes to Central Bank Digital Currencies.  They may not utilise a blockchain at all.  It's likely you won't be able to send them to exchanges or DeFi platforms.  They would never grant you such freedom.

I highly doubt there will be anything remotely similar to yield farming in CBDCs.  Or, at least, not for the likes of you and me anyway.  The banksters themselves would have those kinds of privileges, naturally.  Why would they share such profits with you?  You're the product.  You exist to make them money.

[avikz]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

Lol! Doesn't make sense at all! Before Digital USD, China will bring in Digital Yuan and it seems that digital economy is inevitable because it's cheaper and easy to monitor. Digital currencies will greatly help the government to monitor their citizen's finances. So eventually all countries will slowly move to digital infrastructure.

However, these CBDCs will not be classified as a Defi at all! There is no way a government will allow that to happen because they will loose control over their own currencies. So don't daydream, please!

[fahmimajannat]

It's a big step up towards future. I think in future every Country will use this digital system for currencies. Digital currencies are more handy to use than normal bills.
It will be very useful for the people who are used to with digital technology of modern era.
So its quite good step up from US Gov.

[iv4n]

People seem to make a number of assumptions when it comes to Central Bank Digital Currencies.  They may not utilise a blockchain at all.  It's likely you won't be able to send them to exchanges or DeFi platforms.  They would never grant you such freedom.

I highly doubt there will be anything remotely similar to yield farming in CBDCs.  Or, at least, not for the likes of you and me anyway.  The banksters themselves would have those kinds of privileges, naturally.  Why would they share such profits with you?  You're the product.  You exist to make them money.

Very nice comment! You said some big things here:
- They may not utilise a blockchain at all! They can really bring something new to the table, but whatever that can be, somehow I am sure it will be similar to blockchain concept, with some changes of course!
- We know what a centralized system is, therefore the ones who run it will control the chain and everything on the chain... if they wish to restrict someone they will easily do it! I totally agree with you, they can never grant us freedom we have with decentralized projects!
-You can't be more right when it comes to banksters (and I would add politicians here) whatever they make it will be for themselves, they will have all the privileges, and I am sure they will not share profit with all of us! Sadly we are just a number, we exist, but we are replaceable!

[BrewMaster]

i think OP is just trying to advertise "defi" possibly because he is involved in one and it is tanking. otherwise DEFI is just a scam just like those that came before it. and when a country creates a centralized shitcoin they would never in a million years do it on another platform, instead they create an actual coin not a token.

secondly countries are all waiting to see what those handful of countries that did create a shitcoin do and what happens to their coin before they jump in. so far the first one by Venezuela has been a laughing stock.

[Mauser]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

This is great news for the cryptocurrency market. We will see more and more people going into crypto currencies in the near future. And once people start to buy digitial Dollars they will likely also buy other digitial currencies like Bitcoins or Alt Coins. The more people we can get into the crypto world the higher the prices will eventually be. It's a win win situation.

[DooMAD]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

This is great news for the cryptocurrency market.

Huh?  This isn't "news" at all.  It's closer to a brainfart.  This isn't legitimate information.  If there is a "digital dollar" at some point in future, it probably won't be anything like the wild theory described in the OP.

[maxreish]

At first I thought that he is pointing out USDC as digital dollar. A currency that backed by US dollar. But after reading the defi term, I don't think US will gonna create another defi coin. Afterall, defi system is still in a testing stage wherein financial and loan systems are into considerations.

It is just OP's own speculation. Haven't read any digital dollar by USA as their new cryptocurrency.

[Wexnident]

I don't think USA digital Dollar and Defi could even come together. Close to no doubt that governments would yes, release a digital currency of their own, but it would never be something that would go out of their control. I hardly doubt they'd succumb to the community even if they asked for it unless literally, everyone did that is. Most people don't even know much about economics/finance after all. Add on to that how this isn't even news, since it doesn't even exist. Might as well just wait and check what China does with their CBDC that's currently being tested from what I recall.

[Kakmakr]

I have predicted this before and I will stay with my prediction. Governments will soon implement some regulations to categorize Crypto currencies in two different categories, namely : Public / Private tokens. So based on the category, they will have to adhere to two different types of regulations.

I suspect that "Govcoins" will be regulated less and the private tokens will be regulated to death. They will make sure that the "Govcoins" will be able to succeed at the cost of the "Private coins"  (Simply eliminating the competition)

[pinggoki]

Usa digital dollar is coming soon
The  way to produce more currency it might be defi
Defi so yield farming will be new banking

I don't think that the USA will make and produce a digital dollar, why? Simply because if they make a digital dollar then they must produce a tokens and we are clearly seeing so many shit tokens and shit coins nowadays, I doubt that they can maintain that on a real aspect.

Stop blabbering. How can we have a digital dollar while we can't even have a peaceful atmosphere recently. Moreover, the USA can not even defeat COVID-19 like other countries. There must be a long way that needs to be walked before having a digital dollar. Right now, we can not even ensure who will become the next president. Whether Biden or Trump will be the next since the fighting between them is happening intensively

I am thinking if the OP was somewhat involved in defi because I am clearly seeing him promoting it or else not. Yes that's right that the USA was having a hard time facing this covid19 even though there are a vaccines so what I am trying to say is that, do you think they will start the digital dollar than maintaining the peace and health of their citizens? I don't think so.