The international conversation around the formation of central bank digital currencies (CBDCs) has steadily grown louder and more prevalent over the last few years. Starting with the advent of Bitcoin, the possible need for central banks to put their countries’ currencies on the blockchain seems to have become more pressing, more “real” with each passing year.
This is particularly true within the context of last year. With the dawn of Facebook’s Libra project, the news that China would be expediting the creation of its own national digital currency, and the financial crisis created by the outbreak of COVID-19, the case for CBDCs seems to be stronger than ever–particularly in the United States.
However, forming a ‘digital dollar’ isn’t simply a matter of building a blockchain: there are myriad things to consider in terms of technology, regulations, distribution, interaction with the…
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