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Difference Between the Digital Dollar and CBDC

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The digital dollar will not be a blockchain-based currency issued by the US central bank

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But instead a peer-to-peer method of transferring monetary value developed by the US Treasury Department.

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US recently proposed new legislation which would allow the country’s Treasury Department to create an electronic version of the US dollar

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As digital payment and currency technologies continue to rapidly expand and with Russia, China

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Over 90 countries worldwide already researching and launching some form of Central Bank Digital Currency

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It is absolutely critical for the U.S. to remain a world leader in the development and regulation of digital currency and other digital assets

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It will function on no digital transactions ledger, making transactions anonymous but also resulting in transactions being token-based and not account-based

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The legislation has stated that a two-phase e-cash pilot programme would be started within 90 days of enactment and total deployment of e-cash to the American public would happen within 48 months.

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The Bill was introduced to the United States House of Representatives, the lower house of the US Congress, where the Democrats control a narrow majority.

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Top 10 most-trusted cryptocurrency wallets to safeguard saving

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