The Digital Dollar Project (DDP) will launch at least five pilot programs over the next 12 months with interested stakeholders and DDP participants to measure the value of and inform the future design of a U.S. central bank digital currency (CBDC), or “digital dollar.”
The Project’s efforts are intended to complement other important CBDC work being conducted, including by the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology, and to help inform three of the key preconditions for a CBDC identified by researchers at the Federal Reserve.
The Digital Dollar Project is a partnership between Accenture and the Digital Dollar Foundation to advance the exploration of a United States Central Bank Digital Currency (CBDC). The purpose of the Project is to encourage research and public discussion on the potential advantages of a digital dollar, convene private sector thought leaders and actors, and propose possible models to support the public sector. The Project will develop a framework for potential, practical steps that can be taken to establish a dollar CBDC.
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“The U.S. doesn’t need to be first to the central bank digital currency, but it does need to be a leader in setting standards for the digital future of money, which is why our pilot testing collaboration with Accenture and other partners is so critical,” said Digital Dollar Foundation co-founder J. Christopher Giancarlo. The U.S. Federal Reserve is among many central banks around the world considering the introduction of a CBDC.
