{"id":19795,"date":"2022-05-28T15:28:16","date_gmt":"2022-05-28T19:28:16","guid":{"rendered":"https:\/\/ckms.ca\/?p=19795"},"modified":"2022-05-28T15:47:50","modified_gmt":"2022-05-28T19:47:50","slug":"federal-reserve-takes-key-step-forward-in-deciding-on-digital-coin-issuance-bloomberg","status":"publish","type":"post","link":"https:\/\/blog.ckms.ca\/?p=19795","title":{"rendered":"Federal Reserve Takes Key Step Forward in Deciding on Digital-Coin Issuance &#8211; Bloomberg"},"content":{"rendered":"<p>The Federal Reserve took a key step in weighing the creation of its own digital currency, a move it said could help ensure the U.S. dollar\u2019s dominance as the central bank grapples with fast-growing private cryptocurrencies and coins issued by other nations.<\/p>\n<p>Source: <em><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-20\/fed-takes-key-step-forward-in-deciding-on-digital-coin-issuance\">Federal Reserve Takes Key Step Forward in Deciding on Digital-Coin Issuance &#8211; Bloomberg<\/a><\/em><\/p>\n<hr \/>\n<p>So what does a CBDC do for a country?\u00a0 an economy?\u00a0 the poeple of that country?\u00a0 note that this is not likely tyo b e completely open block-chain thing, more like a governement regulated thing.\u00a0 which it probably should be.<\/p>\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Central_bank_digital_currency#Benefits_and_impacts\">Wikipedia<\/a> is helpful, as always.<\/p>\n<p>Which lead to this interesting story on &#8220;seigniorage&#8221;: <a href=\"http:\/\/news.coinupdate.com\/state-quarters-program-seigniorage-0133\/\">50 State Quarters Program Earned $6.3 Billion in Seigniorage<\/a><\/p>\n<p>so if I read that right, they minted ~34B state quarters between 1999 and 2008.\u00a0 cost ~US$0.05\/coin, which they receive US$0.25\/coin value (but from who?), or a &#8220;profit&#8221; of ~US$0.20\/coin, netting 34B x 0.2 = ~US$6.8B profit?<\/p>\n<p>\u00a0<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve took a key step in weighing the creation of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282],"tags":[1309,1310,18,57],"class_list":["post-19795","post","type-post","status-publish","format-standard","hentry","category-article","tag-cbdc","tag-cryptocurrency","tag-economics","tag-usa","wpcat-282-id"],"_links":{"self":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/19795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19795"}],"version-history":[{"count":0,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/19795\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}