The Bank for International Settlements (BIS) might be the most powerful organization in the world today. The BIS is owned by 63 central banks, representing countries that account for roughly 95% of global GDP.
The (BIS) and recently concluded “Project Icebreaker,” which studied the “benefits” and challenges of using retail central bank digital currencies (CBDC) in international payments.
Project Icebreaker tested the technical feasibility of conducting cross-border and cross-currency transactions between different experimental retail CBDC systems.
Here’s the link if you want to know more about the technical functions.
Here’s a link to the creepy promo video for project icebreaker :
I’m not super interested in what the BIS has to say about the “positive benefits” of what they’re trying to do. Because this is clearly an attempt to create a global currency.
Thankfully, even organizations as powerful as the BIS and the Fed are unable to build a global currency network. The dollar is the most used currency in the world because that’s what the FRE market chooses. That won’t always be the cases, but if the BIS thinks they can just create this concept and get people around the world to accept it they are very naïve.
Is everyone in the world going to simultaneously start using a CBDC? The government wishes this was possible, but it’s not. Think it through, what exactly would need to take place? A complete overhaul of every payment processor and mechanism. That’s a 10-15 year process, if accepted by the public.
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