The World Will Go Cashless, Almost - Richard Turrin #5328

<p><strong>Summary:</strong><br /> The world is becoming more digital in a multitude of ways—one of the most prevalent being with money transactions. I sit down and speak with best selling author Richard Turrin about what some of these changes look like, and why this is a game changer for the big economies—starting with China. Tune in for more, and visit the links below to access Richard Turrin’s main website and book.</p> <p><strong>Highlights:</strong><br /> -Everyone seems to be getting into crypto<br /> -There are very few cash transactions taking place in China<br /> -Are digital currencies going to completely replace cash/standard currency?<br /> -China is a cashless society in the big cities<br /> -China is launching the world’s first central bank digital currency (CBDC) for a major economy<br /> -A CBDC is not a cryptocurrency; it is a digital representation of paper money<br /> -These transactions are free<br /> -This also gets rid of the middle man—no credit processing needs to be done<br /> -central digital currencies can be built on blockchain, but blockchain usually can’t sustain them in a large economy<br /> -Central bank digital currency is issued by the central banks<br /> -Stable coins are a cryptocurrency and they are a special kind of cryptocurrency that is tied to the value of the dollar<br /> -There will be stable coin companies that are regulated similarly to banks<br /> -With a lot of crypto coins, an unlimited amount can be created<br /> -The new version of stable coins will be great</p> <p><strong>Useful Links</strong><br /> <a href="https://www.financialsurvivalnetwork.com" target="_blank" rel="noopener">Financial Survival Network</a><br /> <a href="https://richturrin.com/" target="_blank" rel= "noopener">Rich Turrin</a><br /> <a href= "https://www.amazon.com/dp/B0925JY69H/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1" target="_blank" rel="noopener">Cashless: China’s Digital Currency Revolution by Richard Turrin</a></p>