Bank Of Japan To Launch CBDC – 240

We have more cbdc's coming down the Pipeline and this one is in Japan right So the bank of Japan to launch its cbdc Pilot before May so you got April then You got may you got you got April with Russia you got May with Japan let's see What this one's about and it's going to Be finishing its proof of concept Testing and that began in 2021 Japan a Nation where foreign stable coins like Tether are prohibited plans to begin at Central Bank digital currency pilot in April of 2023. let's talk about stable Coins and their importance and here is The importance of course in my humble Opinion of ethereum right stable coins Inherently are empowered by ethereum so Let's give ethereum some Kudos here for Basically giving us stable coins whether You like it or not and we could talk About okay sure Finance smart chain Their only stable coin kind of failed All right busd is going down right now We're aware of that The importance of stable coins in Struggling economies is Paramount to the Entire debate surrounding cryptocurrency And tokens specifically on top of other Blockchains that represent other assets A stablecoin is basically a coin that is Based on a specific currency or fiat Currency like the US dollar in most Cases that maintains a pegged value to That specific token and that is really

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Important when we're talking about Securing your financial freedom for the Future Especially if you're in a country where The your current currency or your Available currency in this case the yen In Japan is declining in price Why is this well for the most part the Only way you can actually transform Transfer your current fiat currency like The yen into A more stable fiat currency like the US Dollar is through large financial Institutions to have this privilege you Typically have to be wealthy right and That means that a majority of the Population ends up in a position where They're completely oppressed and Suppressed by their economy they're not Able to work themselves out into a Better position they have no options to Save because what's the point in Saving If the the currency is collapsing and What has happened is that people now Have access to this option through Decentralized finance and like I said Before a majority of that is on ethereum So that is very relevant the most recent Example was or the most recent examples Were Argentina and Venezuela Argentina Kind of being I think the poster child For this this cycle and or in Venezuela Being the previous cycle now Venezuela used digibyte because we

Didn't really have stable coins at that Time this is like 2016 through 2018 Cycle right the Bull Run was 2016 to Through 2018. and when they were doing This they were they found a currency a Digital currency that had some value That was propped up and still at least More stable than their economy So even if stable coins go away or They're disallowed what you'll end up Seeing is people starting to move into Things like Bitcoin or digibyte or Litecoin or Dogecoin doesn't really Matter cryptocurrency in general right Decentralized cryptocurrency is the Specific thing that matters here uh and Not a centralized Bank uh you know cbdc So when we get into this topic you have To understand that the reason why Japan Wants to ban stable coins is because it Allows their population to opt out of Their current monetary system and Monetary policy and kind of opt into a More stable option like the US dollar And this gives the individuals more Power at the lower income levels and you Really can't have that if you're trying To get the economy economy based off of Your own currency spinning back up this Is why they make it illegal it gets even Crazier though because this isn't an International scheme that's been going On as we can see with the example in Argentina where in Argentina when the

Same thing started happening and the Argentine dollar started to collapse the Rich started going into the International Banks and trading for US Dollar right the poor didn't have access To that or even the middle class so the Poor in the middle class in this Particular situation in Argentina Started utilizing D5 to purchase stable Coins usdt for example and that sort of Thing on the ethereum blockchain and That allowed them to have some sort of Sustained savings that was helping them Keep their livelihood up the problem is Is right after that what we saw was a Proposal by the UN to Outlaw stable Coins especially In third world countries Established in 2017 octominer is an International mining hardware company They manufacture and engineer the best Mining equipment in the industry and Supply rigs to some of the largest Mining farms around the world their GPU Mining rigs also integrate with the top Crypto operating systems like Hive OS Miner stat and simple mining all parts Come with an international one-year Warranty exciting news they will be Adding Asic miners for sale to their Website soon and launching a new product Built specifically for Asic home miners Please visit octominer.com or email Support

Octominer.com for questions Now on the face of that they say that That needs to be done because they can't Have you know third world countries Having you know basically well The argument I gotta Google it again Because the argument's so ridiculous It's so clear to see through the real Reason why the UN doesn't want third World countries or countries that are in Poverty or countries that are on the Verge of collapse accessing any sort of Uh system that allows them to stabilize Their own finances is because they Literally operate off of collapsing Countries intentionally and rebuilding Them back up Where can we see this case in point now Well we can see this case in point now In the Ukraine right where we already See large massive corporations like BlackRock starting economic recovery Strategies for the Ukraine Well why would they do that because it's Profitable to do so Okay so when we look at anything that Has to do with Central like Decentralized cryptocurrency it's Important to note those differences so You understand where the power struggle Is really happening here and it's Extremely important when we start Talking about Japan why well Japan went On kind of this Crusade of decreasing

The Surplus population as I like to call It and it's this kind of they did it in A different way right China did it with The one child policy for quite some time And now we see the housing collapse Issues in China kind of coming to a head In Japan they did it really with social Pressure and with that social pressure They were able to reduce the amount of New people coming into the general like Into the generation what they've spurred On in In relation to that is a is a housing Crisis so now there's too many available Apartments that pricing on it's too high And people can't afford it yet at the Same time you just have a bunch of Abandoned housing infrastructure that Needs to be filled up and if people are Able to protect their currency then They're able to afford these places to Live in for a longer period of time Which doesn't allow them to spur the Economy with things like construction Etc so really read between the lines Here and start paying attention to why Cryptocurrency matters because this Matters a lot the pilot test will Continue to work on technical feasibly Uh feasibility of the digital Yen and Extend the experiment to modeling a cbdc Ecosystem with the participation of Private companies as the official Specifics no actual retail transactions

Will be made during the pilot only Simulated ones You cheetahs I can't do this speech I can't pronounce that I'll have to Google it later Focuses on the design of the future cbdc And the need to consult with the private Sector on alternative data models Architectures for offline payments and Other vital elements of the system for This kind of consultation The cbdc Forum Will be created the news about the cbdc Pilot was highly anticipated as local Media reported the boj's intention back In November of 2022 According to the reports at least three Japanese Mega Banks and Regional banks Will collaborate with the boj meanwhile Japanese authorities also consider Lifting the ban on foreign stable coins Which came into law in 2022 according to The Financial Services Agency of Japan The amendment should be passed by June Of 2023 while they won't let any foreign Stable coin into the market Automatically the green light will be Shown to those coins which successfully Pass individual checks now why would They start to allow stable coins right Because we just had this whole thing of Like why you don't want stable claims Well In general If they're going to allow it

Specifically for Um Economies that they're participating Within right We can put them in a position where they Can spur on or they can lengthen the Current status quo and I think they're Coming to the realization of that right Like we're talking about if you have That ability to purchase stable coins in General it's going to give you the Ability in the future to lengthen out Your ability to afford goods and Services and housing which is really the Big thing specifically in Japan right Now as we see the housing crisis kind of Come to fruition over there because of The decreased population thanks for Checking out this clip from the crypto Mining show you can check out the full Episode here or more crypto content down Here also I'd like you to check out my Locals page at son of a tech.locals.com Where you can become a member for free Or choose to be a five dollar a month Supporter that unlocks additional Content

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