Opinion: December 8, 2021. The Implementation of Digital Dollars

In the next few years the digital dollar will be implemented. It will be a digital currency created by the Federal Reserve, a central bank. The plan is that every American citizen will have an account with the Federal Reserve. Fees would be cheaper than the current use of commercial banks. People will still be able to use commercial banking for loans, mortgages, credit cards and other services.

In my opinion, this is centralization of the economy. It goes against the decentralization promoted by blockchain technology and shows the desire of the government to have more control over the citizens. More control means less freedom. Dollars would be created pretty much like they are now, out of thin air, not being a secure store of value means.

For further reading read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.