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President Biden often summarizes his vision for America in one word: Possibilities. A “digital dollar” may seem far-fetched, but modern technology could make it a real possibility.
A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system. However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.
www.whitehouse.gov
Pretty hard to do business under the table, wondering what those 87,000 new IRS agents are for? Every transaction will be tracked, and taxed if needed.
A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system. However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.
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Technical Possibilities for a U.S. Central Bank Digital Currency | OSTP | The White House
By Dr. Alondra Nelson, head of the White House Office of Science and Technology Policy Alexander Macgillivray, Principal Deputy United States Chief Technology Officer Nik Marda, Policy Advisor President Biden often summarizes his vision for America in one word: Possibilities. A “digital dollar”...
Pretty hard to do business under the table, wondering what those 87,000 new IRS agents are for? Every transaction will be tracked, and taxed if needed.