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Why is eThaler important today? If read House Bill created a couple of days ago (1,400 page document!). Significant QE for the people. And, why is a central bank - digital currency important? Talk about giving a check to Americans, the way to distribute it is with a digital wallet, and blockchain. This first distribution is QE. The concept of CDBC seems to be in view of House Finance Committee. Significant step. Crises product new ideas and acceptance of new ideas that will live on long after Covid 19.
Article - author argues why do we need a digital currency in US? Thinks differently about central bank digital currency. https://www.forbes.com/sites/davidblack/2020/03/01/who-needs-cryptocurrency-fedcoin-when-we-already-have-a-national-digital-currency/#1ca5ef8b4951
All deposits are digital, credit card transactions are digital. But, it always comes with an intermediary. That's where the risk is tremendous. Digital cash in your account is protected by FDIC only up to a certain amount. What is standing in the back of all of this, (and it's tied to a bank, if the bank goes bankrupt, currency moves to another bank, etc). FDIC ultimately moves account to other banks, but only to the max amount insured. Difference with CBDC, not any of those things. Backed by the central bank. Backing doesn't change, mechanics do. If you're holding in your wallet, nothing is standing between you and the central bank guarantee. Of course, the central bank can go under (low risk).
Misinformation - why we have digital cash today or CBDC, the point is many countries are going for it and not all misinformed. They know more than some article authors.
Current crisis - thousands of dollars to all people - digital wallet great idea for transferring value. Also, in NY, with Big Apps blockchain challenge. Digital wallet alert people to money and services, wallet has powerful repercussions also.
Emergent uses are important.
== Move to eThaler project.