introducing speculative assets into the housing market has caused some problems before.
it’s for corrupt purposes, of course:
The blockchain idea is being pushed, a HUD official told colleagues, by Irving Dennis. Dennis, the agency’s new principal deputy chief financial officer, is a former partner at the global consulting giant EY, also commonly known by its original name, Ernst & Young. EY itself is involved in the proposal as well: An executive of the firm discussed the idea with HUD officials last month.
a followup story: https://www.propublica.org/article/hud-cryptocurrency-blockchain-democrats-maxine-waters
Maxine Waters hates crypto bullshit with the fire of a thousand suns, she’s not in power any more but she can help jam this up
If done right(it won’t be), it could replace cash.
But you know it won’t be. They’ll control the backend of it entirely and it will never be any sort of open standard that isn’t endlessly mintable or manipulated by their whims and wishes.
At this point, I wouldn’t be surprised to find the US lying about what it prints to curb inflation. Could you even imagine that with zero oversight?
