I haven’t seen a post regarding the FedNow, so I though I’ll start one.
I’m guessing that many of you don’t know what the “FedNow” is or you haven’t heard of it yet.
FedNow, is a new payment model, introduced by the federal reserve back in 2015 or so, but now is officially announced on the federal reserve website. It is planned to launch between 2023-2024, if not sooner.
What does that mean? It means that we’re completely replacing the dollar with cryptocurrency.
It means that we’re going cashless, digital and global!
Ripple XRP and Stellar Lumens, are the only two cryptocurrencies that are identified as stablecoins, and have the ability to handle global, instant payments.
There is a bill in congress named “Banking for All Act.” that calls for "Digital Dollars.
Europe has set in motion their digital payments plan to begin implementation in 2021 and be fully implemented by 2024.
China has created a group of companies that will participate in digital payments, which includes companies such as Walmart, IBM, and McDonald’s, just to name a few.
This group has an agreement with VeChain for its crypto purposes.
Why am I saying all this and how it’s going to affect us?
For all of those who don’t believe in cryptocurrency and still think that Cash is King, you’re in for a big surprise.
The FedNow, is taking over with Digital transactions and instant payments, which at the end of each day they will all be reported to the fed directly!
The cash transactions are considered “High-Risk” transactions, as it is risky to keep cash in your registers, and an inefficient way to conduct business since it’s prone to mistakes and it’s time consuming when you have to deal with counting change!
On top of that, all major banks across the globe, are being accused of allowing suspicious transactions which resulted in huge amounts of money laundering.
I put everything in the simplest way possible, so everyone can understand what’s coming.
The information is here, and what you do with it, it’s entirely up to you.
No one has to take my word for it. Each one of you, can do their own research and find out for themselves!
But here is something that I can suggest:
You can invest in those cryptocurrencies now before they really take off!
At the time of this post, the Ripple XRP trades for 23 cents, Stellar Lumens trades for 7 cents, and VeChain trades for less than 2 cents.