Introduction:
In a shocking revelation, it has come to light that central banks worldwide have been working on a secret initiative called "Project FAST" to launch fast payment systems in collaboration with the World Bank and the Bill and Melinda Gates Foundation. This covert operation, veiled in secrecy, raises significant concerns about its implications for financial control and individual privacy.
Background:
The World Bank, aligned closely with U.S. interests, was established during World War II, establishing the U.S. dollar as the world's reserve currency. Its primary purpose has been to issue loans to developing countries, often with conditions tied to meeting the United Nations' Sustainable Development Goals (SDGs). The private sector, represented by organisations like the World Economic Forum, and the public sector, led by the World Bank, have enforced these SDGs. The Bill and Melinda Gates Foundation has actively promoted digital IDs and fast payment systems, raising further concerns.
The Emergence of Fast Payment Systems:
Fast payment systems, also known as instant or real-time payments, offer the advantage of immediate and round-the-clock availability of funds. The World Bank's Payment Systems Development Group (PSDG) has played a significant role in modernising payment systems worldwide, with over 120 countries benefiting from its assistance.
The Connection to Central Bank Digital Currencies (CBDCs):
The PSDG's interest in fast payment systems is not limited to them alone. Reports indicate that CBD-Integration of PSDG may not be necessary, as combining different payment innovations, including immediate payment systems, could achieve similar goals. This suggests that fast payment systems and CBDCs will be developed side by side and will eventually be interoperable, setting the stage for a global CBDC system.
The Stealthy Project FAST:
Project FAST, a milestone in developing fast payment systems, is sponsored by the Bill and Melinda Gates Foundation. Surprisingly, scant information about this initiative is available, leading researchers to dig deeper for answers. Project FAST seems geared towards integrating fast payment systems into other financial market infrastructures, indicating a vision for a global CBDC system.
The Global CBDC System:
The interplay between CBDCs and fast payment systems is likely to receive more attention as central banks continue exploring the development of CBDCs. The report suggests that a potential option is to use fast payment system payment rails for CBDCs, further solidifying the concept of a global CBDC system.
Implications for Individuals and Crypto:
The gradual shift towards fast payment systems and CBDCs raises concerns about individual financial privacy and government transaction control. Educating the public about the potential implications and offering safer alternatives, such as genuinely decentralised cryptocurrencies, is crucial to avoid the mass adoption of these controlled systems.
Conclusion:
Project FAST, the covert initiative led by central banks with the support of the World Bank and the Bill and Melinda Gates Foundation, is rapidly advancing towards a global CBDC system. The implications of such a system for individual financial privacy and personal freedom are immense. While the crypto industry promises to offer decentralised alternatives, it must strive to develop genuinely decentralised stablecoins to compete with the impending CBDC and fast payment system takeover. Educating the public about the potential consequences and promoting secure alternatives is essential in preserving financial freedom in the face of this ambitious plan.
This article was proofread by ChatGPT.
Source:
Coin Bureau, 18 Jul 2023, You'll NEVER BELIEVE Who's Behind CBDCs & Fast Payments!!,
