Senate Hearing Sees Digital Dollar as a Tool for Economic Supremacy
The digital dollar again appeared during a Senate hearing. However, it wasn't the focus of the hearing but just another tool that can be used to maintain U.S. hegemony.
“It’s something we’re studying … [T]his is really a decision which sits as much with the Fed as it does with Treasury,” said Deputy Secretary Justin Muzinich.
If the United States had a digital dollar, we wouldn't need to worry about a lack of coins at retailers like Target and Kroger.
The proposal games out CBDC scenarios for fundamentally different potential digital currency end users.
The Federal Reserve Bank of Boston is evaluating more than 30 different blockchain networks to determine if they would support a digital dollar
The Federal Reserve is actively investigating the potential impact of a digital dollar, though it has no plans to issue one anytime soon.