Digital Dollar

The United States Federal Reserve plans to buy unlimited bond and also print dollar but do not appear to be going well. The country continues to experience a rising unemployment rate. Nonetheless, it appears that the cryptocurrency space has a solution to this challenge. Mark Yusko of Morgan Creek Capital spoke on a recent podcast, suggesting that a central bank digital currency (CBDC) may help with the plan of printing dollar bills. Yusko said CBDCs may help with faster distribution in…

As the markets continue to shift negatively, the US looks to Congress for agreement on a significant stimulus package to rescue the economy from impacts of the coronavirus pandemic. The Democrats in the US house want to create a ‘digital dollar’ and the establishment of ‘digital dollar wallets according to a proposed draft stimulus bill, which has been circulating ahead of formal publishing. The digital wallets would be maintained by the Federal Reserve Bank. The new proposals will facilitate payments…

Several Central Banks are showing interest in exploring the likelihood of issuing their Central Bank Digital Currency (CBDC). China’s Central Bank seems close to launching its own known Digital Currency Electronic System. Central banks are seriously looking into digital currencies; however, some of these banks’ officials resist digital assets. Regardless, there is increasing cryptocurrency adoption, which is fueling the possible issue of CBDCs by Central Banks. The US Fed Exploring the Likelihood of Launching a CBDC Recently, James Powell of…