04 May 2021

US prepares for digital currency pilot

Written By FinTech Alliance

US prepares for digital currency pilot

The Digital Dollar Project in the US is getting underway to explore the potential of a central bank digital currency (CBDC). 

In Brief:

Five pilot programmes are planned for the coming year.

They will explore the options in terms of designs and uses for a CBDC. 

Accenture is partnering with the project for its first phase. 

What does this mean?

The pilot programmes seek to find out the benefits and challenges involved in developing such a currency, as well as the requirements needed to develop it. With China already piloting technology and the UK making this a top priority too, Charles Giancarlo – CEO of Pure Storage and founder of a not-for-profit which is encouraging the project – says “The US doesn’t need to be the first... but it does need to be a leader in setting standards for the future of digital money”. 

Read more here. 

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