FedCoin "Utility Settlement Coin" This is not a debt free Cryptocurrency

http://www.zerohedge.com/news/2017-12-27/are-banksters-creating-their-own-cryptocurrency-called-utility-settlement-coin

"We definitely do not want the banksters to co-opt this movement.  Blockchain technology should be used to free humanity from debt-based central banking, but instead the exact opposite could end up happening.

If someday independently-controlled cryptocurrencies are completely banned or suffocated nearly out of existence by oppressive regulation, the way would be clear for the banksters to force everyone to use their own digital currencies.  There are many nations around the world that have already gone nearly cashless, and the potential for tyranny in a cashless system where all digital currency is controlled by the banksters would be absolutely off the charts."

https://www.washingtonpost.com/opinions/bitcoin-is-big-but-fedcoin-is-bigger/2017/12/18/53e2e79a-e1b8-11e7-89e8-edec16379010_story.html?utm_term=.4b38e9b744c6

https://www.clearmatics.com/news/

"Fedcoin, by contrast, would be decentralized to various Federal Reservebanks. There would be central control over the money supply, just as we have today, but meanwhile, the technology would offer vast improvements in transaction efficiency. Digital transactions are quick, cheap and potentially a lot more secure than the system we have today."

http://fortune.com/2017/12/26/bitcoin-fed-coin/ 

https://bitcoinmagazine.com/articles/fedcoin-could-be-coming-soon-would-it-really-challenge-bitcoin/ 

http://moneywise411.com/tbo-awards-7-billion-to-developnew-fedcoin/ 

http://andolfatto.blogspot.com/2017/12/fedcoin-and-blockchain.html 

https://secure.caseyresearch.com/chain?cid=MKT336710&eid=MKT337384&snaid=&step=start# 

https://www.reddit.com/r/Bitcoin/comments/7layro/fedcoin_crypto_created_by_us_gov/?st=jbphuaei&sh=066f3dfd 

Of course.  It is only obvious and logical.  Central Bank Cryptocurrency.  Private walled garden cryptocurrency incorporating lite (non-distributed public ledger) blockchain.  Is it possible that this would be an application of Cryptocurrency units of value in a debt based balance sheet Central Banking System.  Central Banking can never give up its debt based monetary system that is how the currency system is controlled by government franchise to Private Banking.

What is the fundamental nature of FedCoin?  Debt Based Private Central Banking Monetary System?

FedCoin is a wolf in sheep clothing.  It is a pseudo cryptocurrency but in fact founded on debt based assets for underlying value.  It is not a true debt free cryptocurrency and any implied connection to a cryptocurrency is deceptive.