Digital dollar: the ex-boss of the CFTC to maneuver for a CBDC made in the USA

Credit: Thomas Breher – Pixabay

The former chairman of the US Trading Regulatory Commission (CFTC) confirms his interest in cryptocurrencies. In partnership with Accenture, Chris Giancarlo created the Digital Dollar Project to develop a digital dollar.

This week, several European central banks announced their collaboration to further advance their work on potential use cases for central bank digital currencies (CBDCs).

In the United States, Libra also accelerated thinking in this area. However, it is the private sector which seems to be the most involved today in bringing a successful digital dollar. The Digital Dollar Project was recently announced.

As its name suggests, the project aims to advance the exploration of a digital currency of the central bank of the United States (CBDC). And to weigh with the US regulatory authorities, this initiative can count on significant support.

The initiative for a digital dollar is in fact led by two former leaders of the CFTC, the US trading regulator. It is J. Christopher Giancarlo, nothing less than the former president of the CFTC, as well as Daniel Gorfine, former director of the regulator’s innovation laboratory, the LabCFTC.

This trio is completed by an entrepreneur and investor, Charles Giancarlo. But this team of fine finance experts can also count on the support of a global digital and consulting giant, namely Accenture.

We are launching the project Digital dollar to promote a mtokenized digital american onnaie which would coexist with the other responsibilities of the Federal Reserve and would serve as a means of settlement to meet the requirements of the new digital world and of a cheaper, faster and more inclusive global financial system, ”said the ex-president of the CFTC.

Thanks to the project and the creation of Digital Dollar Foundation, its proponents hope to encourage research and public debate on the potential benefits of a digital dollar, bring together opinion leaders and private sector actors and make proposals.

The organizers are already announcing the development of a framework of potential practical measures, the implementation of which could lead to the creation of a CBDC backed by the dollar.