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Welcome to UMU, Unitary Monetary Unit [Ü] the new CBDC you were waiting for...
1118 sats \ 9 comments \ @mo 8 May 2023 bitcoin
The Digital Currency Monetary Authority is an international entity, established by the World Bank and IMF, that aims to enable trade globalization through monetary integration. The UMU CBDC serves as a framework for the digital dollar and any other digital currency issued by a central bank, and it can be configured to operate according to the regulations of each participating jurisdiction.
This makes it a complementary system that allows merchants and trading partners to accept the Universal Monitor Unit for the equivalent market value of their goods and services, priced in any national legal tender. The UMU CBDC has already been launched, and it functions like a CBDC to enforce banking regulations, symbolized by a character that looks similar to an English letter U, and can transact swift-like cross-border payments over digital currency rails, bypassing the correspondent banking system at wholesale foreign exchange rates with instantaneous real-time settlement.
The Digital Currency Monetary Authority has launched the UMU CBDC, and its website is now live, allowing people to register for one account, check it out! https://umu.cash/
1,00000 Ü = 1.009008 USD 1,00000 USD = 0.991072 Ü
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0 sats \ 0 replies \ @juanito 8 May 2023
from their landing page:
powered by artificial intelligence
...facepalm
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0 sats \ 0 replies \ @SpaceHodler 8 May 2023
Looks like a scam? As in not affiliated with the IMF. Not that many on here would buy the IMF's shitcoin anyway.
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0 sats \ 1 reply \ @DarthCoin 8 May 2023
Who give them that "authority"? I don't give a shit about this crap. They can stick it into their fat ass.
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0 sats \ 0 replies \ @mo OP 8 May 2023
you don't, but unfortunately a lot of uneducated people will... just because a government says it's the right tool to use.
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0 sats \ 0 replies \ @mo OP 8 May 2023
Funny enough... they opted for the .cash domain 🤡
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0 sats \ 3 replies \ @siggy47 8 May 2023
From the website:
Bitcoin inspired a generation of cryptographic store of value and medium of exchange innovations intended to disrupt and to circumvent regulated banking and financial institutions. The International Monetary Fund (IMF) recently published a report on the potential risks of crypto assets to the international monetary system and recommended not to provide legal tender status to crypto assets.
The IMF did not consider the possibility of a new class of cryptographic innovations conceived to not only support but to strengthen the monetary sovereignty of the international banking system (i.e., Crypto 2.0).
The Digital Currency Monetary Authority (DCMA) is a world leader in the advocacy of digital currency innovations for governments and monetary authorities and has innovated a best-in-class design for international Central Bank Digital Currency (CBDC) leveraging a digital economic union.
The IMF states it has a mandate to provide economic and financial stability to its member states. There are some noted encumbrances in the current international monetary system that continually challenge emerging markets, and even some advanced economies, in sustaining their monetary sovereignty.
This paper outlines the blueprint for a best-in-class CBDC design and discusses how a digital economic union and an international CBDC could complement and strengthen the international monetary system.
Several sovereign states have collaborated with the DCMA on a Model Law for an international CBDC, or money commodity, and have provided draft legislation for such outlined in Appendix 1.
by Darrell Hubbard Harvard MBA, M.S. Computer Science
If you needed anything to stiffen your resolve, read the above a few times.
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0 sats \ 2 replies \ @mo OP 8 May 2023
That's the intro to the whitepaper, thanks for the highlight. Don't forget to have a look at it... a 63-pages-long colorful whitepaper https://umu.cash/docs/umu_whitepaper.pdf
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0 sats \ 1 reply \ @siggy47 8 May 2023
Oh. That's far worse. Looks like my system wouldn't open the pdf. I'm sorry it did this time. Yikes!
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0 sats \ 0 replies \ @mo OP 8 May 2023
Better... your system saves you precious time
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