Fed Outlines Pros And Cons Of A US digital Dollar -- But Avoids Taking A Stand for Now

Split: It comes after Maya split with her basketball pro boyfriend Ben earlier this month after the pair reportedly struggled to balance their busy schedules and maintaining a long distance relationship

What factors are driving interest in CBDCs? The rise of cryptocurrencies is serving as a wake-up call to national governments, which have long held a monopoly on currency issuance. Concerns over that monopoly being threatened appear to be what's driving interest in CBDCs, according to Gustav Peebles, a professor of anthropology and an expert in monetary history, theory and policy at The New School in New York City.

What is a central bank digital currency? It's the virtual form of a fiat currency -- that is, government-issued money that isn't backed by other commodities like gold or silver. In short, a CBDC is just the digital form of a country's official currency. As nothing more than a computer code, these currencies could be stored on central ledgers within a country's national bank or on a distributed ledger the way private cryptocurrencies like bitcoin are.

Looking good: Victoria Federica looked the epitome of chic in a black jumpsuit which cinched in her waist while  Caroline Daur kept it casual in a pair of blue jeans and a black coat, while making a bold fashion statement in a pair of black boots

Bitcoin was invented, at least in part, to circumvent governments and national currencies. In the original white paper, released in the wake of the 2008 financial crisis, Satoshi Nakamoto expressed a desire to create "a new electronic cash system" that was "completely decentralized with no server or central authority." 

Sweet: David and Victoria's three youngest children not only showed their support by attending, but also filmed a sweet video for their mum - as Harper stood between Cruz and Romeo, who wrapped an arm around her

Claiming that she was 'blanked for days' by her mother-in-law during the design process of her wedding dress in the interview, the actress has reportedly enraged her in-laws by 'washing the family dirty linen in public'.

A less destabilizing CBDC proposal wouldn't require a federal account but would involve a "cash card," that is, a card that customers of private banks could use at ATMs to load up on digital cash instead of paper money. "Just like paper money, if the holder lost that card or had their wallet stolen, the card would have value on it that anyone could use," Peebles said. 

In the bombshell Grazia interview, she revealed: 'We connected to start designing the dress, and then a few days went by and I didn't hear anything. Victoria called my mom and said her atelier couldn't make it.' 

Which countries are exploring CBDCs? About 110 countries are at some stage of CBDC development, according to the IMF. The Bahamas, Nigeria and several countries in the eastern Caribbean through the Eastern Caribbean Currency Union (including Grenada, Antigua and Barbuda, Saint Lucia and St. Kitts and Nevis) have already issued CBDCs. The names of their e-currencies are the Sand Dollar, eNaira and DCash, respectively. 

Still, the logistics haven't yet been hammered out. One option is for the Federal Reserve to issue digital wallets to Americans, making money accessible through a smartphone app or debit card, according to Peebles. El Salvador did this in the fall by giving Salvadorans access to a crypto wallet app called Chivo when it adopted bitcoin as legal tender in the country.

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Stormzy seemed to address rumours he had strayed in his subsequent music releases - with his song Lessons said to be about click through the up coming document heartbreaking split and lyrics confessing that he had 'done the dirt' on the TV star.

That's what the digital dollar would promise. CBDCs could bypass the traditional banking system by allowing money to flow directly between parties, just like exchanging cash or transferring funds electronically. 

Like mother, like son: Cruz showed that the apple doesn't fall far from the tree as he put on an ultra stylish display - donning PVC trousers and an oversized red jacket while walking hand-in-hand with girlfriend Tana to the show