Digital Dollar? Get Real, Financial Inclusion Advocates Tell Congress

[Paglamon]

Currently just a flashy idea, the digital dollar is competing with more prosaic but proven 20th-century methods for the job of getting stimulus funds to every U.S. resident.

That’s the takeaway from Thursday’s House Financial Services Committee (FSC) hearing, where witnesses advocated different solutions to the problem.

Making the case for an electronic greenback was J. Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), now a director with the Digital Dollar Project.

As he has in the past, he argued tokenization is a way to future-proof the dollar. Other countries, including China, are working to digitize their currencies, he noted. If the U.S. wants to maintain its leadership role in the global financial system, it too should take on this task, he told lawmakers.
Source: https://www.coindesk.com/digital-dollar-get-real-financial-inclusion-advocates-tell-congress

[Senin]

J. Christopher Giancarlo absolutely rightly drew the attention of the Financial Services Committee to the fact that the United States has already begun to lag behind China, where its digital yuan is already at the testing stage. It really threatens that the United States may lose leadership in the world of finance. If  do not catch up, the United States will lose in the trade confrontation with China.
In addition, the major world states have already noted the advantage of using their national digitized currencies, and many of them are already carrying out relevant work.