The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to reveal the results of their research into a digital dollar „as soon as July,” Bloomberg reported today.
James Cunha, head of the digital dollar project at the Boston Fed, noted that the researchers already have at least two prototype platforms that allow users to hold the currency and make transactions using digital dollars. However, he did not clarify whether any of these prototypes are based on blockchain technology.
“We think it’s important that we not wait for the policy debate because then we’ll be a year or so behind. This will take significant outreach to the industry and serious debate,” Cunha added.
A CBDC could disrupt the finance industry
Colloquially dubbed “Fedcoin,” a US digital currency would potentially create an electronic alternative to paper dollar bills—and players from the traditional finance industry are not happy.
“Everyone is afraid that you could dis
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