What is the difference between a crypto asset and a central bank digital currency asset? What is the difference between a blockchain distributed digital ledger and a centralized digital ledger? With a central bank digital currency, the Federal Reserve has control over CBDCs. If it is a decentralized crypto asset like Bitcoin, the government doesn’t have control over it, and they don’t like it. By not having control, they can’t impose a social credit system like China has.
Digital currencies are floating around in various countries, and they will be consolidated into a one world central currency through the Bank of International Settlements. Oil is now being paid for and being sold with the Chinese digital yuan. That is some of the precursors for the launch of the United States central bank digital currency, because the U.S. knows that the time the paper dollar has left to maintain its reserve currency status around the world is limited.
