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January 26, 2020 04:34 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8b325BpgcSc/former-us-regulator-and-accenture-exploring-digital-currency-for-us-central-banks
Former US Regulator and Accenture Exploring Digital Currency for US Central Banks
A former chair of America's Commodity Futures Trading Commission is working with Accenture to explore what Computerworld calls "a U.S. Central Bank Digital Currency" -- a cash-backed stablecoin, issued and controlled by America's central bank, where one token represents one dollar. Long-time Slashdot reader Lucas123 writes:A cryptocurrency based on a blockchain ledger would be a cheaper, faster and more inclusive global financial system than today's analog-based reserve currency that can take two or more days to clear, according to their Digital Dollar Project. The race to integrate cryptocurrency into global banking is speeding up as public sector projects are already driving interest in fiat-backed digital tokens by central and regional banks around the globe but primarily in Europe and Asia. Accenture already has "experience working with central banks on digital currency and related initiatives," Computerworld points out, and quotes the former CFTC chair as saying that"The digital 21st century is underserved by an analogue reserve currency. "A digital dollar would help future-proof the greenback and allow individuals and global enterprises to make payments in dollars irrespective of space and time."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8b325BpgcSc/former-us-regulator-and-accenture-exploring-digital-currency-for-us-central-banks
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