Tuesday, December 5, 2017

The Wall Street Journal: "It is Time to Start Thinking about Fedcoin"

Michael S. Derby writes for The Wall Street Journal:
It is time to start thinking about Fedcoin...

Since central banks rely on their control of the money supply to guide their economies and electronic payment methods are rising in popularity, officials have begun pondering whether they might need to get in the game...

[C]hange is in the air. Some central banks, such as Sweden’s Riksbank, are weighing the creation of their own versions of digital currencies...

[F]or many Americans, cash remains king. The rise of phone-based payment systems and merchants who are willing to take cards for small-scale purchases haven’t made much of a dent, according to data compiled by several regional Fed banks. Cash remains popular for small transactions, and if there is anything moving people away from cash, it is the shift from brick-and-mortar shopping to online purchases, the report noted.
When the Fed is ready they will smash Bitcoin.


1 comment:

  1. My fucking bowling alley switched the bar to cashless. So dumb. You know how many people want to pay cash for drinks? Nope you can pay cash for a gift card at the shoe rental desk and use that in the bar. It's horrific!