Comments by "Frederick Miles" (@frederickmiles8815) on "Digital Currencies Have a Big Problem (FedNow...) || Peter Zeihan" video.

  1. You will also limit shadow banking (off exchange / off book) - especially swap insurance products on off exchange positions and transactions. The biggest risk is not tokenizing the underlying collateral (meaning Fed must tokenize bank reserves). At JPM Onyx we mapped the use cases out years ago. What the not so smart kids at Fed dont get - due layering via API, Wormhold Bridges (between blockchains) supported by smart contract, that transaction will not a straight shot as modern finance is focused on manipulation of time and space of a transaction to build are benefit from artificial arbitrage opportunities. Also, if curious look at Ripple's XRP - btw Fed is not a real central bank (they dont create currency). The real risk is FedNow having retail ledgers - using your banks UI or a unique one - that is how you get hyperinflation (when you stop banking credit risk models from driving your monetary expansion or contraction). If deflation is as bad as we think it is - Fed may bow to political pressure and JP might actually go brrrr... that is the real risk. Benefit is simple Fed will actually see the money supply for the first time in decades as most USD is created offshore without Fed's knowledge.
    1