From DSC:
Should Economics classes be looking at the idea of a digital dollar?
The battle for control of the digital dollar — from protocol.com
Excerpt:
After months of delay, the Federal Reserve’s much-awaited report on a digital dollar could be out soon. Federal Reserve Chairman Jerome Powell told the Senate Banking Committee Tuesday that the white paper on a planned central bank digital currency (CBDC) is “ready to go,” possibly in weeks.
But don’t expect a detailed blueprint for an American CBDC. The white paper will be more of “an exercise in asking questions” about how the digital dollar should work, Powell said.
And there are plenty of questions. Some have already sparked a heated debate: How should consumers gain access to the digital dollar? And how much control should the Fed have?
Will a digital dollar lead to “digital authoritarianism”? That’s one of the biggest fears about a digital currency: a Big Brother future where the Fed has the power to track how people spend their money.