Article taken from: www.coindesk.com
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, helmed by former U.S. regulators and executives from the consulting firm Accenture, announced its intention to launch the first five pilot projects within the next year, evaluating 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 and make it easier to disburse government aid, proponents argue . Opponents say existing technologies may be better suited to these tasks. A number of countries are already experimenting with the concept, with China’s digital yuan perhaps the most advanced so far.
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