• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Fintech Experts Divided on Form For U.S. Central Digital Currency

by CBDC Insider
October 27, 2020
in Business, US
Reading Time: 1min read
0
Fintech Experts Divided on Form For U.S. Central Digital Currency
Share on FacebookShare on Twitter

Financial technology experts agree that some form of digital payment system by the U.S. central bank is inevitable, although opinions diverge on the form it should take.

Rapid progress on a central digital currency elsewhere could threaten U.S. hegemony over global finance, and the current payment system is leaving some Americans behind financially, fintech advocates argue. China and Singapore are experimenting with digital currencies and may soon be joined by Russia, Japan and Sweden. In addition, private companies, including Facebook Inc., have proposed their own digital currencies that may challenge traditional payment networks.

In the U.S., a central bank digital currency, or CBDC, issued by the Federal Reserve, would be in the form of instantaneously transferable electronic dollars, unlike the digital dollars in bank accounts today, which require trusted parties to agree that the funds are available before a transfer can take place.

RELATED STORIES

Would CBDC Become a Golden Opportunity for Banks and Processors?

Would CBDC Become a Golden Opportunity for Banks and Processors?

March 20, 2023
Crypto News Recap: RBI and CBUAE to Develop CBDC

Crypto News Recap: RBI and CBUAE to Develop CBDC

March 20, 2023

Read more: https://www.rollcall.com/2020/10/27/fintech-experts-divided-on-form-for-u-s-central-digital-currency/

Previous Post

Jack Ma Weighs in on Digital Currency

Next Post

Bitcoin Moves Closer To Mass Adoption With PayPal Addition

Next Post
Bitcoin Moves Closer To Mass Adoption With PayPal Addition

Bitcoin Moves Closer To Mass Adoption With PayPal Addition

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register