The Federal Reserve has already launched a small test of near-instantaneous financial transactions. Every time they talk about payments as a future feature of X/Twitter, I wonder if they know that’s getting Sherlocked.

  • cyd@lemmy.world
    link
    fedilink
    English
    arrow-up
    21
    ·
    edit-2
    1 year ago

    FedNow isn’t a cryptocurrency. It’s a real-time funds clearing system, with a centralised ledger. It’s not supposed to replace cash, but rather old school bank transfers that take days to clear.

    You might be thinking about digital currencies which are something else the Fed is trialling and is not yet very far along.