{"id":145423,"date":"2022-11-18T09:32:51","date_gmt":"2022-11-18T13:32:51","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=145423"},"modified":"2022-11-18T09:32:51","modified_gmt":"2022-11-18T13:32:51","slug":"is-the-dollar-about-to-go-digital","status":"publish","type":"post","link":"http:\/\/stateofthenation.co\/?p=145423","title":{"rendered":"<h1><b><i>Is the Dollar About To Go Digital?<\/i><\/b><\/h1>"},"content":{"rendered":"<p><!--more--><\/p>\n<hr \/>\n<h3>READ HERE: <span style=\"font-family: verdana, sans-serif;\"><b>Along the same lines of digital currency and counterparty risk, the Federal Reserve of New York announced on November 15 that it is \u201c<em>Facilitating Wholesale Digital Asset Settlement<\/em>\u201d.<\/b><\/span><\/h3>\n<h3><span style=\"font-family: verdana, sans-serif;\"><b>The Federal Reserve of New York and a dozen major banks are launching a twelve-week test of a digital dollar. A news release on the Federal Reserve of New York website states that the test is to determine the feasibility experiment as a \u2018proof-of-concept\u2019 of transactions using a digital US dollar.<\/b><\/span><\/h3>\n<h3><span style=\"font-family: verdana, sans-serif;\"><b>The twelve-week program will simulate digital money transactions between the participating bank customers. It then settles the transactions through a simulated Fed Reserve distributed ledger.<\/b><\/span><\/h3>\n<h3><span style=\"font-family: verdana, sans-serif;\"><b>The experiment of \u2018digital dollar tokens\u2019 through the test program titled \u201c<em>The Regulated Liability Network<\/em>\u201d by banks through the Federal Reserve is to bring blockchain technology to the \u2018real economy\u2019 and speed up settlements between banks and the central bank. The FRBNY states:\u00a0<\/b><\/span><\/h3>\n<h3><em><span style=\"font-family: verdana, sans-serif;\"><b>In a 12-week proof-of-concept project\u2014the\u00a0Regulated Liability Network U.S. Pilot\u2014the NYIC will experiment with the concept of a regulated liability Network (RLN). RLN is a concept for a financial market infrastructure (FMI) facilitating digital asset transactions. This connects deposits held at regulated financial institutions using distributed ledger technology.<\/b><\/span><\/em><\/h3>\n<hr \/>\n<p>___<br \/>\n<a href=\"https:\/\/www.zerohedge.com\/news\/2022-11-17\/bitcoin-good-gold-myth-over\">https:\/\/www.zerohedge.com\/news\/2022-11-17\/bitcoin-good-gold-myth-over<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-145423","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/145423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=145423"}],"version-history":[{"count":0,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/145423\/revisions"}],"wp:attachment":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=145423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=145423"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=145423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}