American is a non-profit Digital Dollar Project Digital announced yesterday (Monday, edition) that it will launch a total of five pilots over the next 12 months in relation to the US dollar. This is the first time the US has been so serious about central bank money.
The most common name for this initiative is the Central Bank Digital Currency (CPTC). It is a currency issued in digital form by the Central Bank. As a result, business infrastructure is no longer required for payment infrastructure because all of this can take place through a protocol.
Accenture PLC is reportedly sponsoring private sector pilots Reuters. Financial institutions, retailers and voluntary organizations are participating in this experiment. The goal is to obtain information that will help US policymakers generate digital dollars.
The Digital Dollar Project is a collaboration between Accenture and the Digital Dollar Foundation. It was founded last year to research a digital US dollar. With this currency, we can pursue a more targeted monetary policy. But make no mistake: such an attempt contradicts Bitcoin. After all, it is not lacking, not conducive to privacy, not allowed and not decentralized.
Christopher Giancarlo is the co-founder of the Digital Dollar Foundation. He is also the former Chairman of the Commodity Futures Trading Commission (CFDC), which closely follows all developments in the world:
“CPTCs release conferences and documents from around the world every week. All of these documents are based on data from other countries. What we do not have is information and testing from the United States. Data from the real world. The world.”
Central banks around the world deal with CPTCs. China has made great strides in this regard, and they are already well advanced with its digital currency electronic payment (DC / EP). Various working groups also operate in Europe. The ECP recently pointed out the need to speed up.
As the host of the most widely used currencies in the world, the US Federal Reserve acts with extreme caution. They have partnered with the Massachusetts Institute of Technology (MIT) to create the infrastructure for this imaginary digital dollar.
Jerome Powell said last week that getting a good digital dollar is “more important” than fast.
So three pilots will be launched in the next two months. Functional, sociological and business application data are said to be published.