White Paper: Digital Dollar Balances Personal Privacy Rights in Necessary Regulatory Compliance

As previously reported, the Digital Dollar Project, launched by the nonprofit Digital Dollar Foundation and Accenture Consulting, released a white paper. The white paper mentions that “digital dollar” is a token form of the US dollar and will coexist with existing legal currency and commercial bank funds, reflecting the many attributes of tangible currency; “digital dollar” is distributed among commercial banks and regulated institutions In the two-tier structure, the privacy of individuals is balanced in the necessary compliance and supervision; in addition, the “digital dollar” will not affect the Federal Reserve ’s ability to formulate monetary policy and control inflation, its policies and Economic needs will form the underlying technology and final design. “Digital dollars” can promote innovation without hindering the development of private companies.

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