From PYMNTS.com, December 22:
A U.S. digital dollar is possible, and researchers have built the framework to prove it.
That’s according to a multi-year project from the Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT), which has laid fresh groundwork for a central bank digital currency (CBDC).
Undertaken as a joint research effort called “Project Hamilton,” the exercise has reportedly proven the technical feasibility of a U.S. CBDC.
The Boston findings preclude a “watershed” digital currency project the New York Federal Reserve is conducting with a consortium of leading commercial financial institutions, including BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, Truist, U.S. Bank, TD Bank and Wells Fargo.
Named for the original central bank “Founding Father,” Alexander Hamilton, as well as pioneering MIT and Apollo Mission computer scientist Margaret Hamilton, the Boston Fed and MIT research project findings add to efforts from more than 90 other central banks around the world investigating what, exactly, federally run digital currency banking might one day look like.....
....MUCH MORE
