Central Bank Digital Currency

Money Reimagined: Designer Money for a Machine-Run Post-COVID World

A headline in MIT Technology Review caught my attention this week: “The pandemic is emptying call centers. AI chatbots are swooping in.” COVID-19’s perfect storm – a global public health crisis, an economic meltdown and a surge in online connectivity – could accelerate what World Economic Forum founder Klaus Schwab calls the Fourth Industrial Revolution. …

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How the COVID-19 Crisis Revived the Digital Dollar Debate

Lawmakers have used the coronavirus crisis to revive the digital dollar debate. U.S. House and Senate bills proposed in March, which would allow individuals to hold checking accounts directly with the Federal Reserve, have renewed demand for a tech upgrade of the central bank’s issuance system. Millions of U.S. taxpayers have waited for weeks for …

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Digital Dollars Give the State Too Much Control Over Money

Max Raskin is an adjunct professor of law at New York University. A bipartisan group of U.S. congressmen wrote Treasury Secretary Steven Mnuchin last week, urging him to consider the use of blockchain technology in administering the federal government’s coronavirus response. This comes just a month after Democrats in the House and Senate proposed bills …

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