Digital Dollar Wallet to Each American: USA Plans to Launch its Digital Currency

[Galaxy]

It seems the rumours about the launch of digital dollars have been confirmed. The US Federal Reserve has been making actual efforts to launch their Central Bank Digital Currency (CBDC).

Now, the Federal Reserve Board of Governors have partnered with some Federal Reserve Banks to develop basic policies and assess possible issues of risks. The Board has established a technology lab to test various platforms and solutions compatible with development and launch of a CBDC.
Info link: https://coinidol.com/usa-launch-digital-currency/

[cryptopediabd]

Despite the CBDC will have little resemblance to cryptocurrencies such as bitcoin due to its centralized and fully controlled nature, its full-scale launch would give a country a significant economic advantage. For this reason, many central banks have been exploring the potential of CBDC.

[Senin]

Despite the CBDC will have little resemblance to cryptocurrencies such as bitcoin due to its centralized and fully controlled nature, its full-scale launch would give a country a significant economic advantage. For this reason, many central banks have been exploring the potential of CBDC.

The United States is just beginning to develop a digitized dollar, while many states have already issued their national digitized central bank currencies or are preparing to do so in the near future. The main competitor of the United States in trade, China, has been developing its digitized yuan for three years and is already finishing testing it. Even before the end of this year, they intend to launch it into free circulation. Therefore, the US has already lagged behind by several years with its digitized dollar. This means that the United States will no longer have any advantage.

[bigcash2011]

So here comes the digital currency race by the big countries, it was bound to happen after China was leading this sector by being the first now digital dollar news is confirming and work on digital Euro is also ongoing. Many countries will be following this trend which is indirectly accepting the supremacy of the blockchain technology and cryptocurrencies.

[Jamie07]

Despite the CBDC will have little resemblance to cryptocurrencies such as bitcoin due to its centralized and fully controlled nature, its full-scale launch would give a country a significant economic advantage. For this reason, many central banks have been exploring the potential of CBDC.

The United States is just beginning to develop a digitized dollar, while many states have already issued their national digitized central bank currencies or are preparing to do so in the near future. The main competitor of the United States in trade, China, has been developing its digitized yuan for three years and is already finishing testing it. Even before the end of this year, they intend to launch it into free circulation. Therefore, the US has already lagged behind by several years with its digitized dollar. This means that the United States will no longer have any advantage.

U.S Dollar is a currency widely use in international trading that is the difference between USD and YUAN.  So even if they lagged behind there is still importance to this CBDC plan. U.S.A must push trough this plan as to make the financial sector more efficient.