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”.
