Accenture's Digital Dollar Project to Launch Pilot Program for the Design and Use of CBDCs in the United States

The Digital Dollar Project (DDP), co-founded by consulting giant Accenture, will launch pilot tests for the US central bank's digital currency (CBDC) next year to test its design and functionality. using status. To this end, Accenture has entered into a nonprofit partnership with the Digital Dollar Foundation. The report comes at a time when Federal Reserve Governor Jerome Powell said last week that the US will spend a lot of time doing research and will not rush to launch the digital dollar just to compete with China. Accenture will fund the first phase of pilot tests. This includes researching, analyzing and testing technical and functional capabilities. The press release stated that the pilot projects “will assess the extraordinary benefits and challenges; test applications and approaches; and consider possible use cases for both retail and wholesale commercial use ”. The DDP assured that it will announce the results and the pilots' ideas for further investigation and evaluation by Congress. Accenture – Central Bank Digital Currencies Play a Key Role Market analysts are confident that the arrival of the Digital Dollar, including Accenture, will play a key role in transforming the financial landscape and will benefit all stakeholders and businesses. participants. Accenture Senior Managing Director David Treat said: “Central bank digital currencies will play an important role in how we modernize our financial systems – they will increase their reach and engagement while providing a valuable innovation frontier for new products and services. with other important innovations such as digital identity ”. The Digital Dollar Project aims to complement the efforts of other players such as the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology. Currently, 80% of the world's central banks are conducting CBDC experiments and researching the People's Bank of China (PBoC).

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