This July, the Federal Reserve Bank of Boston will unveil a prototype digital dollar system.
According to Bloomberg, the Fed is currently working with researchers at the Massachusetts Institute of Technology to develop various platform options for circulating CBDC.
According to project leader James Cunha,In the summer, the team will present at least two prototypes of a system for storing, moving and paying using a digital dollar. It is not yet known whether the platforms will be based on blockchain or anotherdecentralized technology.
Despite the creation of several options at oncebase, the regulator has no plans to release the digital analogue of the dollar itself. This work is being carried out as part of the study of the prospects for the introduction of the new system, since the government has not yet approved its deployment.
However, in January, the chairman of the US Federal ReserveJerome Powell said that 2021 will be a significant year for the digital dollar, as the authorities begin to pay more attention to this area and discuss it with the public.
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