Failure to Launch a Digital Currency Could Cost the USD Status as World’s Reserve Currency

The Digital Dollar Project is a group headed by Christopher Giancarlo, the former head of the Commodity Futures Trading Commission (CFTC), and is being run in coordination with Accenture; they have released their first white paper with a stern warning for the Federal Reserve; from the paper: “If the USD is to remain the world’s primary reserve currency in the unfolding century, it cannot remain an analog instrument and unit of account for things increasingly denominated as digital tokens”; with China ramping up their digital currency efforts there is a risk that payments systems could end up bypassing western banks. cryptonews

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