3/27/24: The Global CBDC Roll-Out Is Coming

By SRH, Worldwide, the rollout of Central Bank Digital Currencies is getting closer. China, with its digital Yuan leading the way, is conducting a massive trial involving over 25 million people. New guidelines for tourists using CBDCs for the first time were released this week.

The United States appears to be the only country that is hesitant about adopting CBDCs, as there are conflicting reports from officials on the matter. There are several possible reasons for this. It could be due to concerns about de-dollarization and opposition from US Imperialists.

Another possibility is that the US has a more cash-based economy compared to other developed nations, which may make the transition to digital currencies more challenging. Lastly, there is a chance that there is a deliberate propaganda campaign aimed at promoting CBDCs in anti-America circles. It is worth noting that in an election year, both Donald Trump and Robert Kennedy Jr, who are presidential candidates, have expressed their opposition to CBDCs. While Kennedy’s stance may be genuine, it is not uncommon for the “deep state” to discredit an opinion by having Trump endorse it.

However, regardless of America’s position, the global rollout of CBDCs is inevitable. According to the CBDC Tracker by the Atlantic Council, 134 countries, representing 98% of global GDP, are currently working on their own digital currencies. The importance of interoperability is emphasized in a report by the Atlantic Council, as central banks and international financial institutions recognize that fragmented technological advancements in digital currencies could create further divisions and risks in the financial system. Fortunately, there are new models of interoperability being developed to address this issue. Just recently, SWIFT published their findings on the “Seamless Introduction of CBDCs for Cross-Border Transactions,” highlighting the need for smooth integration of CBDCs in cross-border transactions.

Swift’s strategy for seamless and immediate transactions heavily relies on interoperability. The cooperative’s primary focus is on ensuring interoperability between various digital currencies and tokenised assets to prevent the risk of fragmentation. This risk arises from the development of digital currencies using different technologies, standards, and protocols. Swift’s innovative solution has already demonstrated its ability to facilitate cross-border transfers, connecting CBDCs on different networks and with fiat currencies.

In 2024, as outlined in our publication “The Year Global Government Takes Shape,” interoperability remains a key factor. The distinction between 195 interoperable digital currencies and a single global currency is practically non-existent.

Global currency is on the horizon, even if it’s not making headlines just yet.

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