“Our currency is not current.
Old money, as rich as it looks, is flat out broke.
Don’t believe me?
I got receipts”
This is the beginning of the new Spike Lee short film that heralds a bold statement… “old money is out, new money is in”.
The two-minute advert was introduced by one of the largest and fastest-growing digital currency machine (DCM) operators – Coin Cloud. Dubbed “The Currency of Currency” the short piece presents the history of money and the disproportion that is built-in US financial system legacy.
It also alludes to the suggestion that many traditional financial institutions still, even in the 21st century, exclude communities of colour, women, foreigners and other minorities. That is why Coin Cloud decided to refresh views on finance and show the opportunities of digital currency.
Lee explained that “Coin Cloud is on the cusp — the cutting edge — of what affects people of colour when it comes to finances and access to building wealth,” and added that “digital currency is viable for not just people of colour, but anybody who has been historically excluded from traditional financial systems”.
Amondo Redmond, Global Chief Marketing Officer at Coin Cloud said they sought Spike Lee out as soon as they understood the message they wanted to convey.
“We went into this campaign on a mission to spark important dialogue and almost instantly knew that Spike Lee was the perfect person to help us bring it to life,” he explained.
“His deep connection with communities of colour, plus his track record of contextualising issues of equality make him the ideal partner for our goal of making digital currency accessible to all.”
Together with Lee, in the movie, viewers can also see actress Mj Rodriguez, American drag queen and reality TV personality Shangela, singer-songwriter Teyana Taylor and actor-activist Kendrick Sampson.
Jerome Powell says no need for crypto if the US has its own CBDC
Meanwhile, Federal Reserve Chairman Jerome Powell has stated there wouldn’t be a need for cryptocurrencies or stablecoins if the US had its own digital money.
He also said there was still no legal framework for central bank digital currency (CBDC) but revealed that the Fed was working on creating the country’s own digital currency and that it plans to disclose a discussion paper this summer.
Watch the newest Spike Lee’s short film praising digital money here… The Currency of Currency – Directed by Spike Lee – YouTube
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.