USA Federal Reserve considering Cryptocurrency

[anon75430791]

The Federal Reserve is looking into developing a digital currency in the US,...

Man. And you thought your 401k couldn’t possibly drop in value quicker than 2008.

[gracchus]

I’m not surprised. As I said in an earlier topic:

Foreigners visiting China are increasingly stumped by its cashless society

Some governments, like Canada and Estonia, would disagree, since both central banks have seriously explored the idea of issuing cryptocurrencies (Venezuela, too, but that was a desperation move). There’s nothing in such plans that requires the government to issue the individual user’s account or wallet (thereby linking a given public transaction to the two parties). So you could have a government issuing cash in digital form that, via blockchain technology, preserves the level of privacy you g…

If (big if) some amount of cash-like anonymity was built in technologically, with IRS-style legal mechanisms being the only way to compel people to reveal their transactions, this could be a good thing. I’d take a central bank managing a crytocurrency over a private company like Facebook or a technoutopian Libertarian project like Bitcoin.