The Digital Dollar Project, which advocates a blockchain-backed digital banknote inside the United States, has introduced the inaugural roll of its Advisory Board.
The new advisors becoming a member of the founders of the project
The project is an initiative of a number of former heads of the Commodity Futures Trading Commission (CFTC) and Accenture. The new advisory board contains 22 members with broad backgrounds in finance and fee applied sciences. They embrace former CFTC Commissioner Sharon Bowen, PayPal coverage exec Usman Ahmed and Georgetown fintech legislation prof and occasional Cointelegraph contributor Chris Brummer.
The announcement for the brand new board says the advisors goal to "help guide the framework for practical stairs that could be taken to establish a U.S. Central Bank Digital Currency (CBDC)."
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The project's administrators embrace former CFTC Chairman J. Christopher Giancarlo and former head of innovation on the LabCFTC Daniel Gorfine. Speaking with Cointelegraph, Giancarlo defined the purpose of the board:
"We've brought together a broad cross-section of individuals - not institutions, but individuals - with experience in medium of exchange system policy, central banking, commercial banking, KYC/anti-money laundering, privacy law, constitutional law, economics, accounting, tax - all other disciplines that need to be brought together to examine this and its implications not just for the US economy, but implications for the global economy, where the dollar clay the world's primary reserve currency."
Question of digital banknote amid U.S. support?
The information comes amid some main back-and-forth for the crypto group, as many variations of the stimulation bill to battle the business harm formed by COVID-19 inside the U.S. enclosed provender marketing a digital banknote and assort wallets.
"We did not have anything to do with what was in that House bill," Giancarlo knowledgeable Cointelegraph, yet mentioned that legislators power have been affected by the Project's language: "We've been exploitation the phrase 'digital dollar' quite consistently to refer to a US central bank digital currency."
Giancarlo and Gorfine first introduced the Digital Dollar Project in January of this 12 months. The initiative constructed on an October Op-Ed from Giancarlo through which he advocated the necessary for a blockchain-backed digital banknote.
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