Title : "If cash were replaced with a digital dollar... the Fed could impose a negative interest rate by gradually shrinking the electronic balances in everyone’s digital currency accounts..."
link : "If cash were replaced with a digital dollar... the Fed could impose a negative interest rate by gradually shrinking the electronic balances in everyone’s digital currency accounts..."
"If cash were replaced with a digital dollar... the Fed could impose a negative interest rate by gradually shrinking the electronic balances in everyone’s digital currency accounts..."
"... creating an incentive for consumers to spend and for companies to invest. A digital dollar would also hinder illegal activities that rely on anonymous cash transactions, such as drug dealing, money laundering and terrorism financing. It would bring 'off the books' economic activity out of the shadows and into the formal economy, increasing tax revenues. Small businesses would benefit from lower transaction costs, since people would use credit cards less often, and they would avoid the hassles of handling cash..... A digital dollar could threaten what remains of anonymity and privacy in commercial transactions — a reminder that adopting a digital dollar is not just an economic but also a social decision.... With proper preparation and open discussion, we should embrace the advent of a digital dollar."
From "Cash Will Soon Be Obsolete. Will America Be Ready?" by trade policy professor Eswar Prasad (NYT).
Do you still use cash? I carry around some cash, but it seems to be the same cash I've had for the past year. It was an unusual year, but still....
A highly rated comment over there comes from hb in the Czech Republic:
Cash is essential for privacy. Without privacy, there is no freedom. Thankfully Sweden recently backtracked on it's march to go cashless, citing the needs of the poor, the elderly and the non-tech savvy. I don't want to live in or bequeath to future generations an Orwellian world where the government and corporations and every hacker knows every time I buy a pack of gum.
"... creating an incentive for consumers to spend and for companies to invest. A digital dollar would also hinder illegal activities that rely on anonymous cash transactions, such as drug dealing, money laundering and terrorism financing. It would bring 'off the books' economic activity out of the shadows and into the formal economy, increasing tax revenues. Small businesses would benefit from lower transaction costs, since people would use credit cards less often, and they would avoid the hassles of handling cash..... A digital dollar could threaten what remains of anonymity and privacy in commercial transactions — a reminder that adopting a digital dollar is not just an economic but also a social decision.... With proper preparation and open discussion, we should embrace the advent of a digital dollar."
From "Cash Will Soon Be Obsolete. Will America Be Ready?" by trade policy professor Eswar Prasad (NYT).
Do you still use cash? I carry around some cash, but it seems to be the same cash I've had for the past year. It was an unusual year, but still....
A highly rated comment over there comes from hb in the Czech Republic:
Cash is essential for privacy. Without privacy, there is no freedom. Thankfully Sweden recently backtracked on it's march to go cashless, citing the needs of the poor, the elderly and the non-tech savvy. I don't want to live in or bequeath to future generations an Orwellian world where the government and corporations and every hacker knows every time I buy a pack of gum.
Thus articles "If cash were replaced with a digital dollar... the Fed could impose a negative interest rate by gradually shrinking the electronic balances in everyone’s digital currency accounts..."
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