The digital dollar will be tested this year

06.05.2021 |

The United States Federal Reserve has always been cautious about the idea of issuing its own digital currency. While other nations have already moved into the final stages of testing, the Americans have only discussed the possibility of starting development.

However, the Digital Dollar Foundation said it plans to start testing the digital dollar later this year. The project is planned to begin in partnership with Accenture. Over the next two months, three projects with different implementation approaches will be launched in a pilot version at once. And by the end of the year, the number of varieties of digital dollar will increase to five. During the tests, the fund together with the regulator of the country plans to test the various functions, after which, based on the results about the benefits for business and society, will be chosen the right option for development.

According to experts from the Digital Dollar Foundation, the discussion of the possibility of using the digital dollar in the country and in international payments is currently based on the experience of other countries. A more detailed study of the issue requires a slightly different approach - it is necessary to accumulate their own examples of use, after which it will be possible to talk in more detail about the issue of CBDC.