U.S. is considering a radical rethinking of the dollar for today's digital world
The narrative on HN seems to be about how this is not good&#x2F;useful for digital currency users in the US.<p>This is straight up a competitor for the digital yuan (Chinese RMB), and the most valuable use cases from a US federal perspective are international uses (mostly developing countries).<p>Some ideas:<p>- The USD is used as a default currency in many places for many transactions, but there is friction in the system, especially for small payments, and especially with hostile regimes.<p>- The USD as a default currency gives many benefits to the US (e.g., essentially free money).<p>- China and the US are and will be battling for the market of the default currency of non-domestic microtransactions with digital currency. This is just a part of that battle.<p>- There may be some benefits (or not) for domestic users of the eUSD, but that is not the main purpose of this currency. If the eUSD doesn’t resonate for you, then consider that you may not be the target market.<p>- Note that this currency will most likely be presented&#x2F;marketed in a very different way than I am suggesting above, and this will be more for political reasons than anything else.<p>Edit1: Note that when taken in this light, certain aspects of the eUSD like non-distributed ledger, centralized control, etc. should make more sense.<p>Edit2: Here is a link with more info:<p><a href="https:&#x2F;&#x2F;www.mauldineconomics.com&#x2F;frontlinethoughts&#x2F;a-giant-consumptive-force" rel="nofollow">https:&#x2F;&#x2F;www.mauldineconomics.com&#x2F;frontlinethoughts&#x2F;a-giant-c...</a>