Today the Digital Dollar Project announced its intention to launch five central bank digital currency (CBDC) pilot programs within the next twelve months. The Project is a private initiative launched in January 2020 by former Chair of the Commodity Futures Trading Commission (CFTC) J. Christopher Giancarlo’s Digital Dollar Foundation and Accenture. Late last year, the Project outlined a set of nine pilot scenarios, and Accenture will provide initial funding for at least five of these.
The Project aims to both conduct research and engage with the public about a potential central bank-issued digital currency.
On more than one occasion, U.S. Federal Reserve Chairman Jerome Powell has stated that the U.S. doesn’t need to be the first to launch a digital currency.
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