Chris Giancarlo's Digital Dollar Project Names Ex-Treasury, CFTC Officials to New Board
The Digital Dollar Foundation has tapped a number of former government officials and industry experts as advisors as it looks to design and promote a U.S. CBDC.
The Digital Dollar Foundation – an effort by former CFTC officials Christopher Giancarlo and Daniel Gorfine in partnership with Accenture – has tapped a number of former government officials and industry experts to boost its advocacy efforts.
The Digital Dollar Foundation unveiled a board of advisors on Thursday, naming 24 individuals who will help develop the framework for creating a U.S. CBDC.
The new members include Sigal Mandelkar, former undersecretary for the Treasury for Terrorism and Financial Intelligence; Tim Morrison, who served as an adviser for U.S. President Donald Trump; Sheila Warren, who leads the World Economic Forum's (WEF) blockchain efforts; Don Wilson, founder and CEO of diversified trading firm DRW; and Sharon Bowen, former commissioner of the Commodity and Futures Trading Commission (CFTC).
A joint venture between Accenture and the Digital Dollar Foundation that launched earlier this year, the project aims to promote research and discussion around the possible benefits of a U.S. CBDC. Headed by former CFTC Chair Giancarlo, the group hopes to explore how this would operate and scale, as well as whether it could be used for private transactions.
“The insights and expertise of the new advisory group members will be invaluable as we work together to help make the dollar a more effective and smarter currency in an increasingly digital global economy," Giancarlo said in a statement Thursday.
The news comes as the topic of a digital dollar began making its way around Congress. Two separate bills introduced to the House of Representatives and a third bill introduced to the U.S. Senate all detailed how a non-crypto digital dollar might be used to help distribute funds to U.S. residents during the coronavirus outbreak.
The project plans to release a Digital Dollar whitepaper sometime in Q2 2020.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.