Could digital currencies put banks out of business?

the money has value only if enough people wanting it.

It is not how people use money. It is because It iIS. digit@l and you will be controled. Read up,on the NEW WORLD ORDER. IT TELLS YOU. WHAT THEY ARE GOUNG TO DO. YOU HAVE TO HAVE A CHIP. PUT IN I. YOUR HAD SO THE FEDS KNOW WHAT YOU BUY AND WHAT YOU HAVE.. NO MOR3 GARAGE SALES.

Its going to be a giant shyt storm.

Ever wonder why it's so difficult to get ahead financially? Between money printing inflation and ubiquitous loans, unless you immediately invest your money into an asset, you'll never gain wealth.

To those complaining: Just use cash all the time, every day, everywhere.

🔥

Banking Industry should have thier own crosschain Blockchains to accept crypto currency deposits for safekeeping as thier service plus the cash out option (with a fee) for it's customer. Certain remittance companies world wide does this for thier customers...

it’s a cradle to grave, biometeically ID ruled technocratic panopticon.
King Chaz founded the WEF. Kissinger schooled Klaus Schwab.
a CCP style social/carbon credit daily prison.
B€A$T $¥$T€M.

Both use

1)Guys, take a lesson from China before you believe you have something. In China, a digital currency was introduced. They have capped the maximum amount that can be in bank accounts and given many of the initial beta test roll-outs an expiration date.
2)Since China pioneered the concept of digital currency, the UK, the United States, and Canada are all striving to follow suit.
3)When your money keeps running out at a specific time and day after you just received your paycheck, how are you supposed to conserve money?

4)Who are these expert? What qualifications do they have? How can you have qualifications on a task that has NEVER beem impemented before? Cleary just elites like Bill Gates.

Read all the comments and agree with most of them. Government control over everyone's finances is terrifying. The potential for hacking is also scary. But I'm also thinking about something very simple. Can you imagine some 14 year old kid, mowing yards in his neighborhood for $10 a piece just to have enough money for a new game or movie...and having to pay taxes on it? Some kid having to file taxes for a small summer job? I know it's a small thing, but it still bothers me.
If I had any faith in our government doing this the honorable way, I wouldn't mind so much. But there's too many things that could be corrupted and abused. I like the idea of money working like the credit system in Mass Effect or Eve Online, but now isn't the right time to try this.

You people R sick

Xrp cbdc is there attempt

cant beleive it’s from economists

Remember when we were all forced to bail out the banks in the last financial crash?

If we don't have banks then they won't be robbed. It needs to be a 1 online digital wallet everyone should have.

CBDC systems allow indebted nations to better control, and hence steal from, their citizens.

Don't CBDCs make fraud and extortion easier? Instead of going to a bank to withdraw large sums of cash, which would be questioned by bank personnel; CBDCs would allow unlimited transaction amounts between potentially unwilling or unknowing parties. With CBDCs the venerable could be cleaned out by bad actors, or forced to make transfers against their will.

I love just how paronoid people are.

CENTRAL BANKS WILL BE TORN DOWN AND THEY WON'T HAVE JOBS

Nice,but you still are missing the point about digital marketing/currency/exchange/Fiat ponzy sceam.

Am I the only one who can already read what's next?if it's digital and they own the information, they own everything, will no longer need your permission to take your money.

The brand new currency is to put everybody in control in the people aren't using their minds and being manipulated and they're going into control the wrong kind of digital control instead of digital freedom will probably give you $100,000 to get rid of cash

it would close the bank on the high street losing bank workers jobs that would be another achievement for the uk government

Let's hope

No

BOYCOTT DIGITAL MONEY

Banks have bought precious metals put in a safe underground bunkers, vaults for safe keeping and it's used for fraudulent activity, between themselves

OF COURSE!!! GOVERNMENT'S AROUND THE WORLD... WILL LOSE TRILLIONS OF DOLLAR'S IF THEY TRY TO GO DIGITAL. KEEP IT "CASH" IF YOU WANT TO PROSPER!!!

Banks are obsolete

Certainly! Crypto poses an existential threat to the central banking system. Compared to fiat, it’s better in terms of faster transactions, lower fees and security. As a retailer I’ve also taken a big step to launch crypto payments in my business and have opened a merchant account with Capital wallet. Really proud of this decision of accepting cryptos in my business.

Banks putting themselves out of business when the IOU'S end up concentrated with individuals or investment funds who can lend to businesses without a bank. CBDC is obviously damage control.. If I can get 10k loan from Bob for 1% for 5 years but the bank loan 10k at 4% for 3 years, Bob does a better deal than the bank

Private cbdc transactions would be better for retailers.

India has launched CBDC today for pilot project

This was posted just a year ago. Currently, CBDCs are being developed in more than 100 countries world wide. Tyranny is upon us.

If digital currencies allow usury,banks will never be out of business

If these crazies now in charge are successful in the CBDC implementation, people better learn to behave and walk the walk and talk the talk, or they will be able to shut you down!

I'm not exactly fond of commercial banks either, so let's see how this CBDC will go.

Hello, I used your explanation and got ideas from you in my channel....

This video is now a laughing stock, as 18 months later, the world learned that there is a concept called "there is a bigger fool over there".
You have been conned real big.

90% is non renewable resources. Petrol type transactions. Including Bank notes.

Fractional Reserve Banking in a F.I.A.T. currency (that your country can issue) Is WORTHLESS ! Just giving all this wealth to Commercial banks from interest and fees to provide NOTHING ! Why not have ONLY the central bank issue money and they can expand and contract it as needed ? China has this central bank crypto they accept as central bank money. I like that idea !!!
Fractional Reserve Banking Has value ONLY in something a country can not issue. So for example if a third world country has USD or Gold as it's currency and it uses Fractional reserve banking to expand it's money supply on the monetary asset it can not issue.

Yes they can and they will eventually.

Crimea is a part of Ukraine. Not Russia.

Will CBDC impact forex trading?

Am glad I have a digital account with Digital Adverts Ltd

What was explained in this presentation is a Ponzi Scheme. Banks made their own bed with extremely low savings accounts. People put their money into Defi protocols so they can make astronomical gains with their hard earned money. Bank portfolios can't compete with Defi protocols. They made their own bed by scamming people with low interest savings and using people's money to by stocks and barrow against people's yearly income.

Banks are almost obsolete. They are dinosaurs. They being phased out by crypto. It's sink are swim now. They either with the new crypto age or die. They need to invest in stable coins like BUSD, USDT, & USDC.

"You will own nothing and be happy"

Iether way the missing BT money over 10 years still owed me 🦆 🤣⚡⚡