Why “Digital Fiat Currencies” Need to be Based on Data Value

Q. When is a digital currency not a cryptocurrency? A. When a central bank issues it.

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Regulators and CBDCs

This is patently ludicrous logic. Putting aside the fact that cryptocurrencies are deflationary by issuance and design, think it through: if states do not offer a CBDC with superior properties to fiat (which is presumably why they are looking into them in the first place), the public will simply choose an alternative, unconnected to state issuance, which does.

Widespread crypto adoption is a tidal wave about to break over all our heads and the future will be defined by those who are ready to embrace crytpocurrency and not those who choose to remain as insignificant bit players in the delusional fiat farce — and that includes nation states and their fawning central banks.

State regulators need to relinquish centralised controls over CBDCs

The Current State of CBDCs

Regardless, some governments have already implemented the idea of digital fiat currencies, some keep researching it, while others — like Germany — have dismissed the idea altogether.

How so? Because this level of autonomy would ensure a fully decentralised digital fiat currency — a true cryptocurrency — that rises in value due to it being supported by collective engagement as expressed through data and not the collective delusion that keeps the “value” of fiat afloat on a tide of unsustainable debt-based money issuance.

Countries That Have Adopted Digital Currency

These are great steps forward; however, these CBDCs, operating under state issuance regulations, are still dependent on the federal banking system and mainstream economy for value: so — broadly speaking — what is the point?

Better yet, when the Decentr-issued CBDC goes up in value, this has a positive effect on the corresponding fiat currency, due to the fact healthy data generation, exchange and reuse underpins the nature of the stable and productive society that directly supports the fiat currency.

Not only would the Decentr platform allow Venezuela’s natural resources to become liquid, but it would also dramatically increase the value of the Petromoneda, due to the fact the data generated by industry supply chains, inventory, production, etc, would be credited to the national PDV.

Germany is not the only country to have rejected CBDCs

Countries That Have Rejected Digital Currency

On Decentr, “trust” is an issue that 100% decentralisation overcomes by creating a trustless decosytem while “not enough users” is symptomatic of the redundancy of a CBDC that offers little more utility than its fiat counterpart at greater inconvenience.

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Your data is value. Decentr makes your data payable and tradeable online. Decentr.net Medium.com https://rich-james.medium.com/ t.me/DecentrNet

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Your data is value. Decentr makes your data payable and tradeable online. Decentr.net Medium.com https://rich-james.medium.com/ t.me/DecentrNet

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