Hello full of rubber capitalists hope you're well. So in the new Fed now is officially live.

We've been talking about this for quite a few months. Is it a CBDC? Is it something to be concerned with? Is it something that could lead to a

CBC? These are all questions I'm sure that everyone has right now. We're going to go over to the

Fed's website and actually watch their video on Fed Now, how it works.

I'm going to explain to you how the kind of back-end plumbing is operating behind the scenes.

We're going to go over some of the features and then I'm going to connect the dots

and kind of give you my opinion as to whether or not this is something that you should be concerned with.

So let's go right over to the

YouTube page there we go all right and let's listen to what the Fed how the Fed themselves

describe this Fed Now Service.

Now Service is an instant payments infrastructure that financial institutions can use to

clear and settle payments instantly, either on their own or with the help of service providers.

Financial institutions provide their own access interface to their customers, such as a

mobile app or online banking portal. The Fed Now service operates between financial institutions

ensuring transactions are settled securely and instantly. In this simulation

we'll look at how one financial institution, ABC Bank, is enabling

customer access to instant payments.

Heaven, an ABC Bank customer and small business owner wants to send a

Just in Time payment to a supplier using ABC Bank's

instant payment portal.

First, he keys in the amount of the payment, $1,000.

Then he selects which account he would like to have debited for the transaction,

...