"UMU is specifically designed to support central banking and regulated financial institutions. It utilizes a staked proof of trust (SPOT) consensus protocol, along with a “multi-dimensional DLT (mDLT) capable of supporting any asset or liability ledger enabling full-service digital banking and international trade payments.”"
Supposedly there is a whitepaper for IMF's Unicoin, but I can't find it anywhere. The only thing that mentions a whitepaper is the FAQ, but that's a reference to Bitcoin's whitepaper. Without a technical description, Unicoin could be anything.
Nevertheless, I expect Unicoin to use a central database to resolve transactions, but it will include some way to transact offline (cf. this page shows the bluetooth symbol between two phones). Also on that front-page, there is this gibberish:
A Digital Cash Store of Value Innovation The Best Money Rates Worldwide Powered by Artificial Intelligence
It would probably be redundant to predict that Unicoin is pre-mined. Because there is no indication is uses any mining algorithm. The only way Unicoin will get into circulation will be through purchases from the IMF. Which means Unicoin is, at the very least, a way for the IMF to get a fresh injection of fiat.
inb4 the US gets mad at the IMF and the Unicoin project shuts down, leaving thousands of people with nothing more than worthless phone apps.
It seems highly unlikely that the IMF would willingly create a new currency that directly competes with the established fiat system, which has long been the foundation of the elite's wealth and power. Introducing a new digital asset could lead to a significant decrease in the value of traditional assets, undermining the very institutions and individuals that the IMF serves. Instead of developing a genuine digital asset, it is more plausible that the IMF would attempt to consolidate the current banking system by creating a single, unified ledger to replace the numerous private bank ledgers that currently exist. This approach would allow them to maintain control over the global financial landscape while only superficially embracing the digital revolution, ensuring that the traditional power structures remain intact and the wealth of the elite is preserved.
You couldn't make this sh** up.
https://i.pinimg.com/originals/a4/97/ea/a497ea53b215b48f89cd9c27dcff21d1.jpg
I don't see anything mentioned on the IMF website.
IMF announces new money printer
With
“-annual asset pricing targets,”
Which means completely arbitrary inflation rates: price controls.
The fact that they even say ”asset pricing targets” ... it's almost like saying the quiet part out loud 🤐🤐🤐
"UMU is specifically designed to support central banking and regulated financial institutions. It utilizes a staked proof of trust (SPOT) consensus protocol, along with a “multi-dimensional DLT (mDLT) capable of supporting any asset or liability ledger enabling full-service digital banking and international trade payments.”"
ffs
A new language has emerged: Shitcoinese
full-service huh..
specially designed..
wow, this must be sth incredible.
New money, same old strategy
The IMF clearly didn't do any research before picking the name "Unicoin". There are at least two other currencies that are also called "Unicoin":
Supposedly there is a whitepaper for IMF's Unicoin, but I can't find it anywhere. The only thing that mentions a whitepaper is the FAQ, but that's a reference to Bitcoin's whitepaper. Without a technical description, Unicoin could be anything.
Nevertheless, I expect Unicoin to use a central database to resolve transactions, but it will include some way to transact offline (cf. this page shows the bluetooth symbol between two phones). Also on that front-page, there is this gibberish:
It would probably be redundant to predict that Unicoin is pre-mined. Because there is no indication is uses any mining algorithm. The only way Unicoin will get into circulation will be through purchases from the IMF. Which means Unicoin is, at the very least, a way for the IMF to get a fresh injection of fiat.
inb4 the US gets mad at the IMF and the Unicoin project shuts down, leaving thousands of people with nothing more than worthless phone apps.
Is this a joke?
It seems highly unlikely that the IMF would willingly create a new currency that directly competes with the established fiat system, which has long been the foundation of the elite's wealth and power. Introducing a new digital asset could lead to a significant decrease in the value of traditional assets, undermining the very institutions and individuals that the IMF serves. Instead of developing a genuine digital asset, it is more plausible that the IMF would attempt to consolidate the current banking system by creating a single, unified ledger to replace the numerous private bank ledgers that currently exist. This approach would allow them to maintain control over the global financial landscape while only superficially embracing the digital revolution, ensuring that the traditional power structures remain intact and the wealth of the elite is preserved.
Facebook was before its time (Diem/Libra)
Only thieves and robbers create and weaponize CBDC. I think the people in IMF are so dumb. They just can't stand Bitcoin and it's philosophy.
Nothing burger and clickbait title?
CBDC ohh CBDC, get so long soon
Sounds like shitcoin from 2017 lmao
I really expected more of them
Are they trying to go for some nice UwU branding or something
LOL!