[HN Gopher] The Fed's Digital Dollar Would Be 'Nightmareville' f...
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       The Fed's Digital Dollar Would Be 'Nightmareville' for Privacy
        
       Author : danboarder
       Score  : 14 points
       Date   : 2021-06-14 20:37 UTC (2 hours ago)
        
 (HTM) web link (reason.com)
 (TXT) w3m dump (reason.com)
        
       | aluminum96 wrote:
       | I'm hoping the fed can successfully build and deploy _some_
       | standard alternative to the noxious brew of ACH and wire
       | transfers ubiquitous today, even if this attempt fails to take.
       | ACH is awfully complex and high-latency, and wires are expensive
       | and user-unfriendly.
        
       | erentz wrote:
       | Really all of the proposed benefits could be achieved in much
       | less sexy ways. Want to bank the unbanked? Restart post banking.
       | Want to improve transfer speeds? Copy what every other country
       | has done and create a faster electronic clearing system and
       | mandate banks adopt it. So on. So given we have solutions for all
       | these proposed benefits that have been implemented before,
       | elsewhere, I question the true motives behind CBDCs. Especially
       | given they can do far more than these claimed benefits, ruin
       | privacy, allow different interest rates and time limited
       | currencies, control what your money can be used for. Etc. Why
       | would we want to do that?
        
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       (page generated 2021-06-14 23:02 UTC)