Boston's Federal Reserve says it has solved technical challenges of a 'digital dollar'
detailing the pros and cons of a central bank currency. It deliberately avoided taking a stance on whether it should pursue the technology, as any such decision would be made by Congress and other policymakers. Rather, it focused on the potential benefits and pitfalls. It said on the one hand that a digital currency could make financial services more inclusive, but also warned that it would need to protect privacy, guard against financial crimes and be resilient.
Along with the results, the researchers have open-source code for the platform, with the aim of gaining input from the public."There are still many remaining challenges in determining whether or how to adopt a central bank payment system for the United States," said MIT's Digital Currency Initiative director Neha Narula.
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