Today, Congress held an online hearing on how to distribute COVID-19 stimulus payments better, as part of the U.S. House Committee on Financial Services. Congressman Tom Emmer acknowledged that really there were two topics: firstly, how the government can better use technology to deliver services and secondly a central bank digital currency (CBDC). The focus here is on the digital dollar.
Our preview outlined an expected debate over an account-based digital dollar or FedAccount, versus a tokenized digital dollar argued by Chris Giancarlo from the Digital Dollar Foundation.
But Congressman Emmer outlined his vision of a digital dollar, which is perhaps a little more radical.
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