The U.S.-based Digital Dollar Project is kicking off a handful of pilot projects to test how a Federal Reserve-issued central bank digital currency (CBDC) may operate.
The organization, which is led by former U.S. regulators and executives from the consulting firm Accenture, announced its intention to launch within the next year its first five pilot projects to evaluate different aspects of a digital dollar.
A digital dollar – a central bank-issued, tokenized form of the U.S. currency – could help improve financial access for the unbanked and make it easier to disburse government aid, proponents argue. Opponents say existing technologies may be better suited for those tasks. A number of countries are already experimenting with the concept, with China’s digital yuan perhaps the most advanced so far.
Read more: https://www.coindesk.com/digital-dollar-project-first-pilots
