Date
03/05/2021
The Digital Dollar Project (DDP) will launch at least five pilot programs over the next 12 months with interested stakeholders and DDP participants to measure the value of and inform the future design of a U.S. central bank digital currency (CBDC), or “digital dollar.”
A non-profit partnership between Accenture (NYSE: ACN) and the Digital Dollar Foundation, the DDP was created last year to encourage research and public discussion on the potential advantages of a U.S. CBDC a new form of money designed specifically for the digital world that complements the existing forms of physical and electronic monies.
The pilots, for which Accenture is providing the first phase of funding, will explore, analyze and identify technical and functional requirements; assess benefits and outstanding challenges; test applications and approaches; and consider potential use cases for both retail and wholesale commercial utilization. The DDP will release to the publi
Still Getting Your Head Around Digital Currency? So Are Central Bankers nytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nytimes.com Daily Mail and Mail on Sunday newspapers.
By Sunny Kim, CNBC •
Updated on March 6, 2021 at 8:11 am
Angel Garcia | Bloomberg | Getty Images
Intense interest in cryptocurrencies and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own.
China has been in the lead in developing its own digital currency. It s been working on the initiative since 2014. Chinese central bank officials have already conducted massive trials in major cities including Shenzhen, Chengdu and Hangzhou.
Download our mobile app for iOS
to get alerts for local breaking news and weather. China s experiment is very large scale, said J. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission. When the world arrives in Beijing next winter for the Winter Olympics, they are going to be using the new digital renminbi to shop and to stay in hotels and to buy meals in restaurants. The world is going to see a functioning [central bank digital
Report urges US government to focus on blockchain, crypto and a âdigital dollarâ Will the new BidenâHarris administration be able to enforce a technology strategy focused on blockchain, cryptocurrency and digital assets? 30724 Total views Analysis
As the COVID-19 pandemic unfolds, the BidenâHarris administration has begun implementing new strategies to restore the U.S. economy. While notable, implementing emerging technologies, while ensuring data privacy, should also be a top priority for the White House administration to consider.
Don Tapscott, executive chairman of the Blockchain Research Institute â a think tank aimed at advancing blockchain and other emerging technologies â told Cointelegraph that the COVID-19 pandemic has spurred an era, in which government leaders must now acknowledge digital realities:Â âThis is the time for government leaders to develop a comprehensive framework for achieving prosperity, justice, susta