ARE YOU PREPARED?
You of course are asking this. Prepared for what? Then you might ask was not 2020 enough of a change in my life?
After all, every time I left my home, I was told to wear a mask as if radioactive dust was floating all around in the air.
Besides that, schools were closed, as families we were separated, no more dinners or parties. There were big scale lock downs on businesses and anyone fortunate to still have a job, they had to work from home with their kids having school at home.
Your feelings are I have stared at the ceiling and out the windows long enough. So, really now what do I have to prepare for?
ONLY this, cash is going away. It is the logical evolution of money. It has the good the bad and the ugly. Yet it seems to be inevitable.
This is a change that was accelerated in 2020 but it went unnoticed but for a very few people.
This is not about the “federal reserves” growing the printing of money but something much more succinct, the replacing of cash. Or in a practical sense that “money” you have in your bank, that is in your wallet or purse, that money you stash away “under the blanket” to keep safe is taken away and replaced by something else. Something still considered as good as cash, but you cannot physically hold. Ten or fifteen years ago this would not have been something sensible to discuss or even mention.
Yes, we do live in the world of Crypto currencies like Bitcoin and Ethereum which have accepted “store value” with a combined market capitalization equal to the annual gross domestic Product of Mexico. But you would be mistaken to think this is what we are writing about here. No, it is not the wealth held in crypto currencies for they are not that practical in the purchase of goods and services like “cash”. Notwithstanding, even the “Musk’s” of today, most others do not see these cryptos as true currency. You can buy through your credit card or bank account, but these cryptos are by most treated as a “commodity” for trading, mostly because of their volatility.
So, what are we talking about here? Very simply the concept, and today MORE than a concept, of CBDC (Central Bank Digital Currency). This is an “electronic” version of “cash” and “coins”.
The physical properties are no longer needed. You would just have a CBDC account causally linked to the “government” that would credit that account by an “electronic” means. Your “Bank” would just manage this CBDC account.
SO, yes, today many Central banks world over are researching the means and ways to develop their own CBDC. And you are right we do not hear much about it.
However, There are several reasons for this interest:
1. a way to curb unlawful actions by the various criminal elements, world over.
2. eliminate costs of printing bills and minting coins.
3. a way to “bank the unbanked” (well over 400 Mil workers in India and China are unbanked).
4. and a major reason for most is the ability to “track” all these transactions. Someone said it is like having a “CT scan” of the economy.
Five countries are already in pilot formations and experimenting and one has already begun an payment system. Others are developing and researching how to use for their future use.
There are two things that have made a major contribution to this trend. One of course is the high degree of technological advancements, which in turn led to the smartphone and apps with reading code. These became available world over even to those in poverty classed countries. One might say this was and is a revolution much greater than the “industrial revolution” because this reaches across ever kind of culture and economic class of peoples.
And the second reason is that the pandemic we experience served as a “catalyst” to accelerate this move. One reason was paper money was said to carry viruses and so plastic cards, so people opted to use mobile wallets to pay for things. These type payments increase by 50% for 2020 over 2019.
So, there is already a track record of the convenience and speed of “mobile payments” in the system today. Yes, there are many advantages to such a system. There is the ease of doing your finances, you do not have to carry around or count your bills or coins, there is the attraction for the “unbanked” to now get involved with e-commerce. It greatly simplifies transactions.
And yes, there is that very ugly side of the CBDC implementation by governments. It would be invasive on privacy because it would be like having the government and central bank pointing a video camera at your wallet 24/7. How fast this will all be implemented around the world will vary a lot. But it is going to happen.
So, what does this have to do with Compumatrix you may ask. The quickest and simplest answer for your understanding is that we build build based on and are part of the DEFI system of the world. The big plus is this growing DEFI Crypto-ECO-SYSTEM will stay ahead of these governments and will therefore build platforms of integration for ways and means of everyday transaction with and in your wallet.
So, this means to each member that they should be more aware of the things happening around them in this world and thereby generate a much more positive attitude toward Compumatrix and all its effort to amalgamate what it has and does with other partners and affiliates and and therefore they should duly lessen their complaints, criticisms and basic “bitching” about things Compumatrix. By being this way, positive all the time, they then could demonstrate their ability to intelligently recognize the true aspect of this company as a pioneer and developer for a more efficacious operation that brings forth the verity of its motto “ENGAGE ENRICH AND ENHANCE” for every member and family thereof.