Row 66044

Row ID: 66044 | Dataset Entry | Axioma AXP Content Repository

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You appear to be confused by what the acronym CBDC means. It literally means central bank digital currency. And yes, to support it payment terminals would have to have their software updated - you add support via mobile apps and tap to pay initially, and down the road expand it's usage.

None of this is hypothetical - China has already started their rollout of a CBDC yuan across several major Chinese cities. Their central bank (People's Bank of China) even directly states 'Transactions are completed instantaneously because intermediaries, namely banks, are not required to participate in the exchange.' Everything goes through the central bank - you do a transaction, merchant terminal checks in, relays the transaction details, the central bank approves/denies the transaction and deducts that from your account balance. Central bank doesn't want you spending digital yuan at that type of shop? Then you can't. They want to impose a 20% tax on that merchant category this week? Easy as can be. They just don't like YOU as an individual this week - sorry, you're out of luck.

FieldValue
text You appear to be confused by what the acronym CBDC means. It literally means central bank digital currency. And yes, to support it payment terminals would have to have their software updated - you add support via mobile apps and tap to pay initially, and down the road expand it's usage. None of this is hypothetical - China has already started their rollout of a CBDC yuan across several major Chinese cities. Their central bank (People's Bank of China) even directly states 'Transactions are co…
label r/bitcoin
dataType comment
communityName r/Bitcoin
datetime 2024-05-23
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url_encoded Z0FBQUFBQm5Lak9zQlRlM19OSzc0azVZZHpfQ0R4SDA2elhFWUhrZXFNM043UGtIOFk3X044aHU2WEhfR3Y1bXllT3hfSEJyenRsUkF1dTRRcElSZ3hLSFNpWWotNGQyVUFSamFiVFNESWRsdjNrbzQ4bE1weWFJQlJoZ1lnUUdDVWdvQzV1SWRONWh0cldyRVlfdUJYTVVsT3QzbUpWVW5GRnpCejdHZWdCTjE4NEliLWhiUDBqejZ1RHlWSy1qV0J0LVFOSHdILWtOT2l5ZUdRVEcwbmZVemtCVWIxMVZBdz09

Raw Record

{
  "text": "You appear to be confused by what the acronym CBDC means.  It literally means central bank digital currency.  And yes, to support it payment terminals would have to have their software updated - you add support via mobile apps and tap to pay initially, and down the road expand it's usage.\n\nNone of this is hypothetical - China has already started their rollout of a CBDC yuan across several major Chinese cities.  Their central bank (People's Bank of China) even directly states 'Transactions are completed instantaneously because intermediaries, namely banks, are not required to participate in the exchange.'  Everything goes through the central bank - you do a transaction, merchant terminal checks in, relays the transaction details, the central bank approves/denies the transaction and deducts that from your account balance.  Central bank doesn't want you spending digital yuan at that type of shop? Then you can't.  They want to impose a 20% tax on that merchant category this week? Easy as can be.  They just don't like YOU as an individual this week - sorry, you're out of luck.",
  "label": "r/bitcoin",
  "dataType": "comment",
  "communityName": "r/Bitcoin",
  "datetime": "2024-05-23",
  "username_encoded": "Z0FBQUFBQm5Lak1jaHMwWVRWSW9KMFFIazZRdVJOaGFESUI5VzhtTlZfY1g3ZW1LNTdqM3NVWTV6T2ZJM0hOQy1pejE2ZTc5d0VJcHR5VFhkNFM0TmtBb1ZhSUpDWl9tOWc9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak9zQlRlM19OSzc0azVZZHpfQ0R4SDA2elhFWUhrZXFNM043UGtIOFk3X044aHU2WEhfR3Y1bXllT3hfSEJyenRsUkF1dTRRcElSZ3hLSFNpWWotNGQyVUFSamFiVFNESWRsdjNrbzQ4bE1weWFJQlJoZ1lnUUdDVWdvQzV1SWRONWh0cldyRVlfdUJYTVVsT3QzbUpWVW5GRnpCejdHZWdCTjE4NEliLWhiUDBqejZ1RHlWSy1qV0J0LVFOSHdILWtOT2l5ZUdRVEcwbmZVemtCVWIxMVZBdz09"
}
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