The US Federal Reserve is seeking input for the important matter of Central Bank Digital Currency (CBDC). It defines it as a digital liability of a central bank that is widely available to the general public, as opposed to so-called Cryptocurrencies that are commercial bank liabilities. It is important to understand that Cryptocurrencies are not currencies, they are digital commodities. Yet they do have benefits that had caught the attention of central banks.
Decisions on serious matters are a major responsibility. They are meant to be made transparently and after much deliberation. Unfortunately, news headlines are nowadays filled with tragic miscalculations that must have been reached in the tiniest rooms of the palace.
There is still time to join the digital currency debate. Read the Money and Payments: The U.S. Dollar in the Age of Digital Transformation report, and participate.
