What is a “digital dollar”? How is it different from existing money that is kept in banks and spent using credit cards/wire transfers?

Question

I have been hearing a lot of buzz about the government introducing a “digital dollar”. But isn’t most money already digital? What would be the big difference in this system?

In: 378

Answer 1

You don’t actually own any money you think you own, you have an account at a bank which has an account with the federal reserve.

A digital dollar would remove the bank, and then your money resides directly with the federal reserve.

The Chinese will do it first, as a surveillance system of the state disguised as a monetary system.