The digital dollar again appeared during a Senate hearing. However, it wasn’t the focus of the hearing, but rather just another tool that can be used to maintain U.S. hegemony.
Digital dollars can promote a more inclusive financial system, or they can contribute to already-growing economic inequality in the U.S.
Currently just a flashy idea, the digital dollar is competing with duller but proven methods for the job of getting stimulus funds to every U.S. resident.
The National Science Foundation has given blockchain startup KRNC $225,000 to design cryptocurrency features for the U.S. dollar.
The Digital Dollar Project’s first white paper describes how a two-tiered system underpinning a tokenized dollar could modernize the U.S. financial system.
Arming the Federal Reserve with a digital dollar would harm the free market, says Max Raskin, an NYU adjunct professor of law.
A blueprint for a central bank digital currency designed with a specific purpose: stopping layoffs.
BIS researchers think COVID-19 may accelerate the adoption of digital payments and sharpen the debate over central bank digital currencies.
Smart contracts and distributed ledgers can bring accountability and certainty to coronavirus relief efforts, says economist Stephanie Hurder.
Central banks are well placed to deliver regular, no-questions-asked monthly payments to everyone, and to manage any ensuing inflation.