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Former U.S. regulator leads effort to create digital dollar

Computerworld – The project will explore how a cryptocurrency could produce a more efficient and safer means of cross-border trade, clearance and settlement. “The former chair of the Commodity Futures Trading Commission (CFTC) has partnered with Accenture to create the non-profit Digital Dollar Project, which plans to explore the creation of a U.S. Central Bank Digital Currency (CBDC). “The digital 21st century is underserved by an analogue reserve currency,” said Chris Giancarlo, former CFTC chair under Presidents Barack Obama and Donald Trump. “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.  The purpose of the Digital Dollar Project is to encourage research and public discussion on the potential advantages of a digital dollar, convene private sector thought leaders and actors, and propose possible models to support the public sector. The Project will develop a framework for practical steps that can be taken to establish a dollar-based CBDC…”

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