“Fednow” “Fedcoin” “Cashless Society”
CBDC – Central Bank Digital Currency
August 29th, 2022
Are you ready ?
Everything that you were told for so many years and told was conspiracy theory is now reality.
Get ready.
The first half of the US CBDC is coming online in 2023 called FedNow… Built to replace ACH transfers and bank to bank payments it will takeover payroll payments, utility payments, credit card payments and others via digital instant payments…
This will include all direct deposits to people from the Federal government.
I would “assume” that all future direct payments to people from the Federal government will start sometime between May and July 2023.
Current ACH payments take 2-4 days. Under CBDC, it will be instant. Speed-up. Full control at anytime.
“Fednow” “Wholesale” is the bank to bank system being rolled out.
“Fednow” will be used for the coming “UBI” system. Universal Basic Income.
The one for citizens is called “Retail” will come later on next year. Date to be determined once first phase comes online as of now.
Thailand is currently “testing” the “retail” CBDC system.
“Fedcoin” will be the “Retail” version of CBD for people.
It is an instant blockchain system built upon XRP Ripple technology, system which they call “Volante”.
XRP Ripple is partnered with the World Economic Forum.
‘New capabilities such as programmability, composability and tokenisation … can be built on top of CBDCs, fast payment systems and associated data architectures’
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Remarks by Vice Chair Brainard on FedNow, August 29, 2022
August 29th, 2023 – Video 5 mins 28 secs
Fednow service will be fully ready between May and July of 2023 for all bank to bank payments.
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Transcript
Progress on Fast Payments for All: An Update on FedNow
5 Page PDF
Progress on Fast Payments for All: An Update on FedNow PDF
https://www.federalreserve.gov/…/brainard20220829a.pdf
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How the FedNow(SM) Service will work
Feb 8th, 2021 – Video 3 mins 28 secs
Get a preview of how the FedNow Service payment flow will work and the benefits instant payments can provide to financial institutions and the people and businesses they serve. The FedNow Service will give financial institutions of all sizes the opportunity to innovate and offer instant payment solutions that customers are increasingly demanding in today’s fast-paced world.
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Volante’s FedNow Solution
Oct. 5th, 2021 – Video 5 mins
Volante offers the fastest path to evolve your business with FedNow.
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“Fedcoin”
The Federal Reserve issued a paper detailing some of their research on the benefits and potential issues with a central bank digital currency issued by the Fed. The crucial part is that they are asking for public feedback on a CBDC and this is a rare window of opportunity to speak into what the central bank does. It is simply too dangerous to allow the power a CBDC would grant to fall into anyone’s hands.
40 Page PDF
