Senator Mike Rounds

@SenatorRounds ↗

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Last Checked Jan. 19, 2022

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Thu May 27 19:51:03 +0000 2021

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Senator Mike Rounds @SenatorRounds

The software used to make new CCs exists and is publicly available, which means that developing a new CC can be done in as little as a few hours. Honestly, it looks like a return to the days when each bank printed their own notes. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

CCs exist only in digital ledgers and wallets rather than as physical objects like dollar bills. Like all fiat currencies, they have value only because people agree they do, but CCs in general lack the backing of a government or central bank. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

Using bitcoin as an example: bitcoins exist in digital ledgers, but to prevent fraudulent exchanges, transactions are recorded in encrypted blocks. Each block points at the previous block and has a timestamp. Go where each block points and you get a chain, called a “blockchain”. — PolitiTweet.org

Posted May 27, 2021