The Reserve Bank of India (RBI) will launch its Central Bank Digital Currency (CBDC) on December 1, 2022.
Here's a thread 🧵explaining key details:
TL;DR
- CBDC is a Digital Currency
- CBDC will be based on blockchain technology
- CBDC will not be Decentralized
- CBDC IS NOT Crypto!
- CBDC will be regulated by the RBI
- CBDC will have impact on UPI
- CBDC will replace SWIFT
- CBDC does not offer any yield
CBDC will be issued in the form of a digital rupee, which will be backed by the Indian government and the RBI.
CBDC will be available to both individuals and businesses, and will be used for transactions such as payments, remittances, and investments.
Use Facial Recognition to eliminate or reduce fake/spam accounts.
Facial recognition is a biometric technology that uses facial features to identify individuals. This is done by comparing the facial features of the user to those stored in a database.
It can be used to eliminate fake accounts on social media by requiring users to authenticate their identity using their face.
This would ensure that only genuine users are able to access the platform, and any fake accounts would be blocked. Additionally, facial recognition can be used to detect any suspicious activity and flag it for further investigation.
The current potential US rail road strike is a result of a labor dispute between the National Railway Labor Conference (NRLC) and the National Carriers’ Conference Committee (NCCC).
The NRLC is a group of unions representing over 200,000 rail workers, while the NCCC is a group of railroads that negotiate labor contracts with the unions. The two sides have been in negotiations since March of 2020, but have yet to reach an agreement.
The main issues at stake are wages, benefits, and working conditions. The unions are seeking a wage increase of 3.5 percent per year for the next four years, as well as improved safety and health protections for workers.