A New System
Are You Ready for Your New Bank Account?
The Digital Dollar is coming sooner than you think. What will this mean for you?
The term “Digital Dollar” has been popping up in several stimulus drafts lately, as well as various white papers from the IMF and other finance-related institutions, and also private-sector projects over the last few years. While a new currency is unlikely to be instituted as a result of a 5-page Senate bill, its presence should act as a reminder of where the financial system is most certainly headed — even if not by way of official legislation just yet.
Bitcoin was a wake up call, though it originally wasn’t spoken of by leaders as a global threat.
Years before Gen Z was born, we just understood that money can’t move on weekends — because bankers don’t work on weekends. We assumed that we needed to pay a fee to transfer money. If you needed to give your friend 10 bucks and you had no cash on you, you were out of options without heading to the closest ATM. All that and more has changed, making us collectively realize that artificial hurdles had been in place to basically inconvenience us, and cost us more money.
