this post was submitted on 19 Jul 2023
1 points (100.0% liked)

Economics

2253 readers
8 users here now

founded 6 years ago
MODERATORS
Rumblestiltskin@lemmy.ml
1
FedNow - how do you all feel about it? (lemmy.dbzer0.com)
submitted 2 years ago by Shake747@lemmy.dbzer0.com to c/economics@lemmy.ml
0 comments fedilink hide all child comments
 

FedNow appears to be launching July 23, 2023. To me, it doesn't seem very good in the sense that the Fed now gets to be a middle man to payment transactions (sure it's "instant" but we're all aware that security != convenience).

It's also a "centralized" solution.

It could be a stepping stone to a centralized digital bank currency is my fear. And also the fed will now be able to see/monitor all transactions through it.

no comments (yet)
sorted by: hot top controversial new old
there doesn't seem to be anything here