The Digital Dollar Project, a US nonprofit project, plans to roll out five pilot programs this year to test the usage of a US central bank digital currency (CBDC), Reuters has learned.
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Regulated by Accenture and the Digital Dollar Foundation, the project plans to generate data that might help US policymakers develop a digital version of dollar.
"There are conferences and papers coming out every week around the world on CBDCs based on data from other countries. What there is not, is any real data and testing from the United States to inform that debate. We are seeking to generate that real-world data," said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission
It is expected that at least three pilot programs will be launched in the next two months. The data is due to be released publicly, Reuters noted. Meanwhile, the Federal Reserve Bank (FRS) of Boston and the Massachusetts Institute of Technology (MIT) plan to complete their work related to a prototype national digital currency (CBDC) by July.
The institutions began their work on the development of a digital dollar back in August 2020. The project participants then announced they intended to create a"mechanism and software that meets the needs" of a CBDC for a country the size of the United States.
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