TLDR
In March 2022, Joe Biden officially asked the Federal Reserve (FED) to urgently begin developing plans for a U.S. Central Bank Digital Currency (CBDC), or a so-called ‘digital dollar’. The US government is now starting to recognize the latent possibilities of the burgeoning digital asset market and hopes to use this technology to create a CBDC that will “preserve the dominant role of the U.S. dollar.” But what is a CBDC? How does it relate to cryptocurrency, and what are the latest developments in the great CBDC experiment?
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Written by anton-dzyatkovskii | CEO and co-founder of Platinum Software Development Company. Blockchain enthusiast, blogger.
