- Wall Street Banks Brace for Digital Dollars as The Next Big Disruptive Force
by Jeff Cox, https://www.cnbc.com/world/
* Wall Street banks view central bank digital currencies as the next big financial disruptor.
* Countries as large as China and as small as the Bahamas have instituted these digital currencies.
* In the U.S., the Federal Reserve is taking a cautious approach though it has launched a project with MIT.
Wall Street is warming up to the idea that the next big disruptive force on the horizon is central bank digital currencies, even though the Federal Reserve likely remains a few years away from developing its own.
Led by countries as large as China and as small as the Bahamas, digital money is drawing stronger interest as the future of an increasingly cashless society. A digital dollar would resemble cryptocurrencies such as bitcoin or ethereum in some limited respects, but differ in important ways.