The Eurasia Economic Union (EAEU) is speeding up its design of a common payment system, which has been closely discussed for nearly a year with the Chinese under the stewardship of Sergey Glazyev, the EAEU’s minister in charge of Integration and Macro-economy.
Through its regulatory body, the Eurasian Economic Commission (EEC), the EAEU has just extended a very serious proposal to the BRICS nations (Brazil, Russia, India, China and South Africa) which, crucially, are already on the way to turning into BRICS+: a sort of G20 of the Global South.
As if all that was not game-changing enough, Russian President Vladimir Putin is raising the stakes by calling for a new international payment system based on blockchain and digital currencies
[ + ] GeneralDisarray
[ - ] GeneralDisarray 0 points 2.4 yearsDec 1, 2022 01:15:41 ago (+0/-0)
The real danger is cbdc with no cash components at nation level.
[ + ] knightwarrior41
[ - ] knightwarrior41 [op] 1 point 2.4 yearsDec 1, 2022 01:18:52 ago (+1/-0)
[ + ] GeneralDisarray
[ - ] GeneralDisarray 0 points 2.4 yearsDec 1, 2022 01:29:04 ago (+0/-0)
No banks should be allowed to limit your cash withdrawals either.
I would prefer a system where cash can be created and destroyed as needed. A space for the cash is on the ledger than records it as cash in use or crypto that can be traded digitally.
We do need some form of crypto. But I'm dead against it being exclusively crypto. That is a very dangerous scenario. It gives a few people too much power, information and control.