DO U BELIEVE.....NO BRIDGE BEING BUILT?

www.coindesk.com/policy/2023/07/20/us-fe...ow-instant-payments/

FedNow offers functionality that proponents of cryptocurrencies and blockchains have long championed: making it easier to move money around. The service could, therefore, increase friction between the conventional financial system and crypto – at a time when U.S. regulators have taken aggressive steps to clamp down on digital currencies.

FedNow has faced some criticism over potentially building a bridge to a future digital version of the U.S. dollar. However, in a July 10 FAQ, the Fed denied FedNow is tied to putative plans for such a thing.

The older I get the more I distrust alternative currencies.

FRED,
You are going to love the BRICS currency based on gold. No more fiat money.

There are big problems with gold too. Every year you have to mine more for the population increase. If you don't refine enough, will everyone actually have to take a reduction in wages?
Prices decrease every year? Or will it be like Spain in the 1600's? All this gold shows up on the market from the new world and we are back to skyrocketing inflation.

I don't know where you got the idea that more gold has to be mined to account for an increase in world population, but I do not subscribe to that idea. The amount of gold in the world has never been based on the population of the world.
Why would a reduction in wages be necessary not enough gold is refined. A country's currency is pegged to the of the gold and it will rise and fall accordingly. This is what the world had always relied on until Breton Woods, 1944, which pegged other currencies to the dollar which in turn was based on gold. Nixon took the U.S. off the gold standard in 1971 because the Fed had printed too many dollars to be covered by our gold reserves.
I remembered quite well, the day the announcement of this action. My spouse and I were in Scotland, the price of goods shot up, the pound was thought to be stronger against the dollar now that it was not based on gold. The other banks of the world knew that the U.S. had printed too many dollars.
I don't know what happened to Spain in the 1600's. In that the U.S. did not exist as an entity and our economy was primarily based on the barter system, I assume that you are referring to Occidental countries. Is that correct?

www.axios.com/2023/07/22/fednow-instant-payments-credit-cards


Be smart: Pix isn't winning just because it's easy to use, but also because merchants are aggressively pushing it, making it the default payment option and even offering discounts for customers who use it.

That's because the average Pix interchange fee is just 0.33%, compared with 2.34% for credit cards.

The bottom line: Americans will be slow to give up their credit cards. But if merchants get aggressive in pushing us toward something more instantaneous, they could end up saving tens of billions of dollars in interchange fees.

What is Pix?

BEST GUESS


Zelle lets you send and receive money instantly but the money might not be available for customers until days after the transaction. With FedNow, the Fed says the money will be available within seconds. Zelle has a customer-facing platform that allows customers to send money through their app while FedNow will not directly interact with customers but rather offer the services to banks.

en.wikipedia.org/wiki/Pix_(payment_system)

Once again what is Pix? And now what is Zelle? Perhaps you can explain this in your own words?

ramage wrote: Once again what is Pix? And now what is Zelle? Perhaps you can explain this in your own words?

every heard of PAYPAL????? there r several methods of payment,been that way for awhile.