{"id":540652,"date":"2023-01-19T00:55:00","date_gmt":"2023-01-18T21:55:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/digital-dollar-project-urges-us-to-take-action-on-cbdc-development\/"},"modified":"2023-01-19T00:55:00","modified_gmt":"2023-01-18T21:55:00","slug":"digital-dollar-project-urges-us-to-take-action-on-cbdc-development","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/digital-dollar-project-urges-us-to-take-action-on-cbdc-development\/","title":{"rendered":"# Digital Dollar Project urges US to take action on CBDC development"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3289c6414dd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3289c6414dd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/digital-dollar-project-urges-us-to-take-action-on-cbdc-development\/#%E2%80%9D_Digital_Dollar_Project_urges_US_to_take_action_on_CBDC_development_%E2%80%9C\" >&#8221; Digital Dollar Project urges US to take action on CBDC development &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Digital_Dollar_Project_urges_US_to_take_action_on_CBDC_development_%E2%80%9C\"><\/span>&#8221; Digital Dollar Project urges US to take action on CBDC development &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvODNiMmRmOWUtZDQ4Zi00MjgzLTg5ODktZGM2ZjQ1NWQzMjQ3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>The Digital Dollar Project (DDP) released a new version of its white paper &#8220;Exploring a U.S. CBDC&#8221; on Jan. 18. The project\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/digitaldollarproject.org\/wp-content\/uploads\/2023\/01\/Digital-Dollar-Project-White-Paper-2.0_2023.pdf\">expanded<\/a>\u00a0the paper in order\u00a0to examine central bank digital currency projects internationally, though its focus is still on the United States.<\/p>\n<p>The DDP introduced its \u201cchampion model\u201d of an inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ted wholesale and retail CBDC in the first <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/digitaldollarproject.org\/wp-content\/uploads\/2021\/05\/Digital-Dollar-Project-Whitepaper_vF_7_13_20.pdf\">version<\/a> of the paper in May 2020. Since that time, CBDC projects worldwide have increased from 35 to 114. The updated DDP paper retained the core tenets of the champion, such as those on privacy and monetary policy, and it discussed technological advancements of recent years.<\/p>\n<p>The new ideas in the report mainly revolved the authors\u2019 warnings about the United States falling behind in CBDC research and leadership. Regardless of the final U.S. decision on introducing a dollar CBDC, the authors wrote:<\/p>\n<blockquote><p>\u201cIt [is] imperative that the U.S. government consider ways to maintain the use of the dollar in digital global payment systems and develop a strategy related to the use of alternative payment systems.\u201d <\/p><\/blockquote>\n<p>The DDP was established by former Commodity Futures Trading Commission chairman Christopher Giancarlo in 2020 to promote a U.S. CBDC. The organization has implemented a variety of pilot projects in conjunction with information <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> company Accenture. In 2022, it introduced a technical sandbox with Ripple, Emtech and three other organizations. <\/p>\n<p><strong><em>Related: Cointelegraph Exclusive: Former CFTC Chair Looks to Digital Dollar Beyond COVID-19 Stimulus<\/em><\/strong><\/p>\n<p>The Federal Reserve released a paper in January 2022 that stated that it \u201cwould only pursue a CBDC in the context of broad public and cross-governmental support.\u201d Research has continued on a U.S. CBDC, notably in Project Hamilton, which released two reports and recently declared its mission completed. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today we are proud to release DDP&#8217;s 2023 white paper update where we revisit our &#8220;champion model&#8221; proposed in 2020, provide recommendations to the US government and private sector and look ahead to the next stage in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CBDC?src=hash&amp;ref_src=twsrc%5Etfw\">#CBDC<\/a> developments <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/giancarloMKTS?ref_src=twsrc%5Etfw\">@giancarloMKTS<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/bX5u4zfqMc\">https:\/\/t.co\/bX5u4zfqMc<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/si2joxbkq9\">pic.twitter.com\/si2joxbkq9<\/a><\/p>\n<p>\u2014 The Digital Dollar Project (@Digital_Dollar_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Digital_Dollar_\/status\/1615753661422108673?ref_src=twsrc%5Etfw\">January 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Fed has not yet received a signal from the government to go ahead with the introduction of a USD CBDC. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/digital-dollar-project-urges-us-to-take-action-on-cbdc-development\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Digital Dollar Project urges US to take action on CBDC development &#8220; The Digital Dollar Project (DDP) released a new version of its white paper &#8220;Exploring a U.S. CBDC&#8221; on Jan. 18. The project\u00a0expanded\u00a0the paper in order\u00a0to examine central bank digital currency projects internationally, though its focus is still on the United States. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/83b2df9e-d48f-4283-8989-dc6f455d3247.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,74355],"class_list":["post-540652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=540652"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540653"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}