WASHINGTON—The Federal Reserve Bank of Boston is partnering with researchers at the Massachusetts Institute of Technology on a multiyear effort to build and test “a hypothetical digital currency oriented to central bank uses,” announced Federal Reserve Governor Lael Brainard.
“The objectives of our research and experimentation across the Federal Reserve System are to assess the safety and efficiency of digital currency systems, to inform our understanding of private-sector arrangements, and to give us hands-on experience to understand the opportunities and limitations of possible technologies for digital forms of central bank money,” said Brainard during a conference sponsored by the Federal Reserve Bank of San Francisco.
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