Accenture and Digital Dollar Foundation to trial United States CBDC this year

Fortune 500 company Accenture has teamed up with Digital Dollar Foundation to conduct Central Bank Digital Currency, or CBDC, trials in the United States. Announced on Monday, May 3, the newly formed Digital Dollar Project will carry out five CBDC pilot programs over the next 12 months. The project’s objective is to generate data to inform U.S. policymakers on how to develop a domestic digital currency. The Digital Dollar Project will launch three pilot programs in the next two months, generating data on the functional, sociological, and business benefits of…

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Better to get it right than to be first with CBDC, says US Fed chair

The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed’s chairman, Jerome Powell. Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to issuing CBDCs. Speaking at an Oct. 19 panel on cross-border payments hosted by the International Monetary Fund, Powell said: We have not made a decision to issue a CBDC, and we think there’s a great deal of work yet to…

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