TLDR Crypto 2024-08-27
Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar
Wyoming plans to launch the Wyoming stable token, a US-dollar-backed stablecoin, in Q1 2025. Its goal is to facilitate faster and cheaper transactions while introducing a new revenue stream for the state. The token will serve as a model for a federally digitized dollar, and the state will invest reserves into Treasury Bills to fund public schools. If successful, Wyoming hopes to expand to tokenizing other assets like commodities and real estate.
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If WY is really interested in building up their State investing in US Treasury bonds is NOT a good long term strategy. A better one would be to foster Wyoming businesses like ranches, farms, and homes with “friendly” financing for things whole within their State. The North Dakota bank is the exemplar of how to do it. All State, City, and local Gooferments can do their “banking” with the WY Bank and cut Wall Street out of the “supply train”. By developing Wyoming’s financial infrastructure it can prepare for the hard times ahead. Think local; act local. #endthefed
Posted by reinkefj 
Reinke Faces Life 