Pretty interesting article. AND it was updated just last week. To me, the most interesting part was the final line: "In the wake of the coronavirus pandemic, prominent economists have noted that a digital currency would have made it easier for the government to send stimulus checks to workers." Just like the gov'ment to make it all about supporting the people...
1000 BBP
Hopefully, digital dollar is designed correctly. I know Fed Reserve is working on instant transfer feature (between banks I think) for injecting liquidity, but I suppose the same technology could be used in the context of a digital dollar. Even with the USD having inflationary value, USD provides a stable value. Some countries use it informally as their currency of choice because their government backed fiat is unreliable or too volatile.
Innovation is occurring with cryptocurrencies and stablecoins, but anonymity doesn't seem to be a characteristic they are considering when building digital dollar. China is building their own digital yuan and it could very well be used to track usage of dissidents and/or limit access to people they disagree with. I could see the same being done in the USA with homeland security, DEA, FBI, NSA, etc.
Bitcoin and the stablecoins aren't any better on the anonymous point. At least stablecoins offer a stable value pegged to the USD. But I'm still not impressed that most of the stablecoins decided to be ERC20 tokens on the Ethereum network. So, none of them will have instant transfer feature like XLM, XRP, or DASH InstantSend.
Still, a digital account for every US citizen would be great. You get your social security, unemployment, federal pension, military pension, irs tax refunds, etc all can be deposited into a US digital account. If the government bails out a corporation, we can all get dividends when the corporate stock is sold at a higher price. Reparations for African-Americans could also be deposited here if it became law.
Overall, I'd support a US digital account to streamline the bureacracy.
![](https://san.biblepay.org/Images/cherriessmall.png)
2700 BBP