- The new financial system is already up and running, IMO. It is just waiting for the current old system to die and then do a immediate switch over.
- Boston Fed Is Looking at ’30 to 40′ Blockchain Networks for Digital Dollar Experiments
by Nikhilesh De, https://www.coindesk.com/
The Federal Reserve Bank of Boston, one of 12 regional Federal Reserve banks operating under the U.S. central bank, is evaluating more than 30 different blockchain networks to determine if they would support a digital dollar.
The Boston Fed, as it’s more commonly known, announced earlier this month it was actively testing a digital dollar – a tokenized version of the U.S. dollar – with the Massachusetts Institute of Technology’s Digital Currency Initiative. The collaboration builds on previous research efforts, and is intended to establish how a digital dollar might complement the existing greenback, said Boston Fed Senior Vice President Jim Cunha. Ultimately, the results will be published and potentially considered for an actual digital dollar, though the latter part is still years away.
“What we’re doing now really is much more thorough, much more building a platform to see whether distributed ledger can meet the needs of a U.S.-based central bank digital currency,” he said. “Can it actually function?”