The Government Launching Its Own Cash App: The End of Physical Cash?
Last updated: Jul 30, 2023
The video is about the government launching its own cash app called fednow, which allows businesses and individuals to transfer money instantly, and discusses the potential implications of this for the future of physical cash and privacy.
The video discusses the government's plan to launch its own cash app called fednow in July.
The app is intended to provide businesses and individuals with immediate access to funds and faster money transfers. However, the video raises concerns about the potential implications of this move, such as the government having complete control over financial transactions and the invasion of privacy.
It also suggests that the app could be a way for the government to monitor and track financial activities for tax purposes.
The government is launching its own cash app called fednow.
Fednow allows businesses and individuals to transfer money instantly.
There are concerns about the implications of this for the future of physical cash and privacy.
Fednow is the Federal Reserve's new instant payment system.
There are concerns about whether this is necessary, as private services like Zelle already exist.