Doq Holliday
@doqholliday
20 April, 09:15
I am not a crypto expert by any means... but...
From what I understand, if the US was to switch to a new digital currency that was gold & silver backed and interchangable with real money like gold and silver coins and gold backed dollars, which already exist...
They would need something like XRP so that anyone that has money tied up in bank accounts, could be swapped with the new money/wallet. They can do this all programatically using small amounts to start.
Am I on point or wayyy off? Open to feedback. :)
From what I understand, if the US was to switch to a new digital currency that was gold & silver backed and interchangable with real money like gold and silver coins and gold backed dollars, which already exist...
They would need something like XRP so that anyone that has money tied up in bank accounts, could be swapped with the new money/wallet. They can do this all programatically using small amounts to start.
Am I on point or wayyy off? Open to feedback. :)
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Cryptos in general are necessary for the continuation of electronic payments under the new system. Since we can't send banknotes, gold or sliver over the internet, they will be the new method.
XRP specifically is primarily to be a bridge currency between nations, replacing the SWIFT system for international money transfers. It simplifies everything, finishes the trnasactions in seconds, and does it all for a tiny fraction of the cost the current thieves in banking charge. XRP can do many other more complicated things which there is no need to cover here.
The best part is that cryptos will render many banking and financial institutions virtually useless. Using them will be a choice, not a necessity.
Yes, we'll be out from under their jackboot and they'll be begging us to give them any scraps we choose to send their way.
At least those institutions that survive...
XRP specifically is primarily to be a bridge currency between nations, replacing the SWIFT system for international money transfers. It simplifies everything, finishes the trnasactions in seconds, and does it all for a tiny fraction of the cost the current thieves in banking charge. XRP can do many other more complicated things which there is no need to cover here.
The best part is that cryptos will render many banking and financial institutions virtually useless. Using them will be a choice, not a necessity.
Yes, we'll be out from under their jackboot and they'll be begging us to give them any scraps we choose to send their way.
At least those institutions that survive...
09:39 AM - Apr 20, 2021
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