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The Digital Dollar Project Launches Five CBDC Pilots

The nonprofit Digital Dollar Foundation, behind the development of the digital dollar, will launch five “real-world” pilot projects over the course of the year. CoinDesk reports.

The organization is headed by the ex-chairman CFTC Christopher Giancarlo. The main technology partner is Accenture.

The Digital Dollar Initiative aims to explore various aspects of how the National Digital Currency (CBDC) may be issued Fed

“We can use the stablecoin structure and show how the CBDC works. The only difference may be who the issuer is. “– explained one of the project managers, David Treat.

According to the top manager, the first results will appear in a few months, the rest – in 2022.

Recall that in May 2020, the organization released a white paper of the digital dollar. A 50 page document details the potential uses of CBDC.

In April 2021, Fed Chairman Jerome Powell announced the possibility of issuing CBDC and reminded that it is more important to do it right, and not compete with others.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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