Quote:
Originally Posted by PilgrimsProgress
This is a change that is coming September 10. I am hopeless at finance but maybe some of you wizards will enjoy reading the dozens of pages of this document and then tell us how the little guy is affected. Not many people know about this except high level bankers, supposedly. Is this blockchain? Can it be connected to voting?
https://www.federalregister.gov/docu...stant-payments |
Making it easier for all to exchange USD's. Including you and me.
Nothing much in my life would change, since current exchange suffices.
I recently did a $500K money transfer while out of town. I called my bank and it took a FedEx overnight. And then a courier then picked up the cashier's check that day and delivered it to the recipient. Of course I do not do such transactions commonly. But instant transfer to the recipient would be better and easier, if not somehow riskier.
No doubt the system uses encryption. Blockchain may be a better way to do this, but I see no mention of it.
A blockchain system might be applied to voting, but I see no relationship to this Fed system at this time.
China has been moving in this direction, but the USA certainly isn't China!
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