2/ We often hear about #cbdc from central banks. But what about a state issuing its own stablecoin? Is this going to happen. Wyoming is working on making this a reality.
3/ How does this change things? Under this scenario, the stablecoin will be backed by USD, 1:1. Thus, it is more of an asset being issued by the state more than a currency. It does bring up a new debate though.
4/ Instead of public versus private, we would have public versus public. States (and provinces) could be competing with the federal authorities. This will make for interesting theater since politics gets exciting with power grabs.
5/ This is something that we are going to see though. There will be hundreds of stablecoins produced. It is going to be tied to networks, thus providing the scenario of "when in Rome..."
Well that's quite a development my first thought was I am not sure the fed would get behind that but maybe if it's just a usd peg it's probably not going to be as much of an issue for them
2/ We often hear about #cbdc from central banks. But what about a state issuing its own stablecoin? Is this going to happen. Wyoming is working on making this a reality.
3/ How does this change things? Under this scenario, the stablecoin will be backed by USD, 1:1. Thus, it is more of an asset being issued by the state more than a currency. It does bring up a new debate though.
4/ Instead of public versus private, we would have public versus public. States (and provinces) could be competing with the federal authorities. This will make for interesting theater since politics gets exciting with power grabs.
5/ This is something that we are going to see though. There will be hundreds of stablecoins produced. It is going to be tied to networks, thus providing the scenario of "when in Rome..."
To read full article:
https://leofinance.io/@taskmaster4450/cbdc-competition-state-stablecoins
That raises lots of questions.
Will other states accept it?
If every state starts its own digital currency, then transactions / exchanges will become complex and will be nightmare?
Everyone has to be on same page for this to work.
Well that's quite a development my first thought was I am not sure the fed would get behind that but maybe if it's just a usd peg it's probably not going to be as much of an issue for them