FedNow Program Will End In a CBDC #shorts

There’s a lot of misunderstanding that this is a central bank digital currency and that it’s meant to replace cash. But it’s not.

It’s not a digital currency. FedNow is a payments service that allows banks and credit unions to transfer funds instantly.

It is like other Federal Reserve payments services, such as Fedwire and FedACH.

While this may not be a digital currency or meant to replace cash, I can see how this service would make it easier to roll out a CBDC when the time comes. The Fed consolidates power, gets everyone using it, and viola – next thing you know, we all are using the fed coin or whatever it is they decide to call it.

#shorts #fednow #fedcoin #banking #federalreserve

[organizedchaos]

It’s the beginning of setting up the financial infrastructure of their digital blockchain system