- US Launching Five Digital Dollar Pilot Programs
by Tyler Durden, https://www.zerohedge.com/
By now it’s common knowledge that China is leaps and bounds ahead of all other central banks in launching a CBDC, or Central Bank Digital Currency (which Beijing vows is not a challenge to the reserve status of the US Dollar, but is precisely that), however the US is doing everything it can to keep up. And while one wouldn’t get the sense of urgency if one listened to either the Fed chair or the NY Fed president today…
* POWELL SAYS HAVE NOT DECIDED WHETHER TO ISSUE A DIGITAL CURRENCY
* WILLIAMS SAYS FED IS STUDYING CENTRAL BANK DIGITAL CURRENCIES ACTIVELY AND IS NOT IN A RACE
… on Monday, the nonprofit organization Digital Dollar Project said it will launch five pilot programs over the next 12 months to test the potential uses of a U.S. central bank digital currency, the first effort of its kind in the United States.
According to Reuters, the private-sector pilots which hope to recreate similar tests held in China last year, will initially be funded by Accenture and involve financial firms, retailers and NGOs, among others. The aim is simple: to generate data that could help U.S. policymakers develop a digital dollar.