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Replace Currency in the Digital Contract

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Aug 6th, 2022

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How to Replace Currency in the Digital Contract

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and then theres this push towards a solely digital currency thats happening we saw a step in that direction this week with the ANZ Bank stopping with withdrawals of cash in some of their branches now this is a good decision for ANZ and I expect other banks will follow suit but its not a good decision for us it also suits the governments move to a central bank digital currency let me explain how this is going to work cash will be phased out that process is already underway its no longer accepted for payment everywhere in a previous Government tried to ban some cash transactions and even cancel the 100 note for those unaware of the history that was the freedom-loving liberal government by the way anyway once everyone is used to a purely digital payment means they can simply flick a switch to move the monetary system to the blockchain you will not even notice this until it actually impacts you you see blockchain based currency is also a programmable currency government could theoreti

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Is crypto going to replace currency?

The top US bank regulator says that crypto s are unlikely to replace traditional currency and that banks should proceed cautiously when they experiment with the asset class.

How is CBDC different from cash?

While Americans have long held money predominantly in digital formfor example in bank accounts, payment apps or through online transactionsa CBDC would differ from existing digital money available to the general public because a CBDC would be a liability of the Federal Reserve, not of a commercial bank.

Can cryptocurrency replace cash?

Possible Concerns if Cryptocurrencies Replace Cash If cryptocurrencies outpace cash in terms of usage, traditional currencies will lose value without any means of recourse. Should cryptocurrencies take over entirely, new infrastructure would have to be developed in order to allow the world to adapt.

Will digital euro replace cash?

No, the digital euro wont replace the physical euro. Itll simply work alongside it to make payments even easier and more secure.

Is CBDC replacing cash?

This type of money is known as a central bank digital currency (CBDC). It would not replace cash.

What is CBDC to replace cash?

This type of money is known as a central bank digital currency (CBDC). It would not replace cash.

What is the new federal digital currency?

The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash. The FedNow Service is an instant payments service provided by the Federal Reserve, launching in July 2023.

What is the replacement of the dollar?

The replacement global currency is an old favorite. Its called SDR (Special Drawing Rights). What is SDR? SDR is an artificial [global] currency created by the International Monetary Fund.

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