The agency asked for feedback from the citizens regarding the digital Dollar.
11 countries have already launched Central Bank Digital Currencies.
The Federal Reserve released a paper on how the concept of Central Bank Digital Currency (CBDC) can be used in the U.S. Recently, the agency asked for feedback from the citizens regarding the digital Dollar, resulting in a mixed reaction from the population. While some are in favor, while a few have concerns about how it can impact negatively to the people.
People Are Still Skeptical Over CBDC
Digital Dollar may render it easier for citizens to execute transactions, still some believe that cash must always be an option. In case of a potential outage or anything, cash would be the ultimate savior. Moreover, people are also concerned about their privacy and believe that CBDC implementation could lead the government to control every aspect of their lives.
Another comment says that this could be a bad idea as it can potentially affect the poverty
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