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The Federal Reserve Could Be Considering a Digital Dollar

05 November 2019 15:35, UTC
The Federal Reserve Could Be Considering a Digital Dollar

After multiple talks for the adoption of the digital dollar, it seems like the Federal Reserve is starting to consider this possibility. Reporters have noticed a new job opening on the Federal Reserve’s website that would manage the research of digital currencies, stablecoins as well as distributed ledger technologies. These three aspects are pretty much what digital currencies are, even though the first part was directly referring to them.

This is not a direct confirmation that the Federal Reserve is going to commit to developing its own digital currency, but the fact that they’re starting to consider researching it is already a good sign. Multiple market experts have commented that the US cannot afford to fall back on such an innovation. Countries like China have already started making their own e-currency, which would be a bad sign for the dollar on a global scale.

The reason is that digital currencies are much faster and cheaper to transact. Pairing them up with an already liquid currency such as the Chinese Yuan is enough to popularize it worldwide.

But, as already mentioned, the Federal Reserve is not considering making its own currency as of yet. The research done by this new employee, who’s going to be paid a hefty $250,000 annual salary is most likely going to go directly in the decision’s board of actually adopting the new technology.



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