The Digital Dollar Project is a neutral, non-profit forum focused on exploring digital money innovations and preserving the role of the US Dollar in a world of decentralized and centralized sovereign and non-sovereign digital currency networks.
The Digital Dollar Project is dedicated to spearheading principle-driven research and fostering in-depth public discourse on the future of digital monetary innovations. This encompasses a broad spectrum of digital money forms, including Central Bank Digital Currencies (CBDCs), stablecoins, tokenized deposits, and other digital currencies. Through a combination of experimental pilots and collaborative working groups, the Project aims to explore and guide public discussion on the potential benefits and challenges of both private and public digital currency networks. These discussions are crucial steps towards ensuring that future financial systems and tools enhance monetary policy effectiveness and financial stability, provide increased access and necessary scalability, security, and privacy, and integrate seamlessly with existing financial infrastructures.
The Digital Dollar Project works closely with its advisory board, participant community, and pilot partners to explore all forms of tokenized digital money through a deliberative process including pilots, stakeholder meetings, roundtable discussions, and open forums. The Digital Dollar Project is open to participants from all relevant sectors, including commercial institutions, the innovation community, non-profit organizations and universities.
Our pilot program is born out of the need for a greater understanding of the risks and benefits of a potential US CBDC and its impacts on both the public and private sectors. Through real-world experimentation, the pilots pressure-test the champion model and explore implications across retail, wholesale, and international use cases, generating empirical data used to guide policy and technical decisions.
As the private and public sectors collaborate in exploring digital money, it’s essential for business leaders and policymakers to comprehend the functionality and capabilities of advancing technologies. Our experimentation initiatives, including sandbox programs, fintech hubs, and technical deep dive workshops, aim to bridge educational gaps and study specific hypotheses on of benefits and risks of digital monetary innovations. These efforts focus on creating a future financial system that offers enhanced efficiency, inclusion, transparency, and choice in global payments.
Our working groups are formed from technologists, financial service leaders, innovators, civil societies, policymakers, and consumer and privacy advocates to further thought leadership on topics such as privacy, national security, risk, financial inclusion, integration of AI, and more. Their aim is to explore and clarify the various risks, challenges, and benefits associated with the emergence of new forms of digital money and how we can continue to protect democratic values in an increasingly digital economy.
The work of the Digital Dollar Project is ultimately aimed at serving the public good by advancing the discussion on the future of the US dollar. All outputs are publicly shared to facilitate education and understanding of digital currency innovation activities, discuss implications, and advocate for responsible advancement. To ensure the United States remains competitive and the U.S. dollar retains its global relevance, the Digital Dollar Project shares all data and research publicly to aid the education of policymakers.
By Jennifer Lassiter, Katherine Haar, Ananya Kumar, and Alisha Chhangani /// April 10, 2024
By Jennifer Lassiter and Katherine Haar /// Jan 23, 2024
Digital Dollar Project /// Nov 24, 2023
Risk Working Group /// June 27, 2023
Fortune /// Jan. 25, 2024
Today, a new phase is at hand, an Internet of value, payments, and money itself. The choice is clear: Lead, follow, or get left behind.
Cointelegraph /// Jan. 25, 2024
Central bank digital currencies are becoming more politicized globally, “but in the U.S. they seem to be ‘hyper-politicized.’”
Coindesk /// Apr 27, 2023
Whether or not the U.S. adopts a digital dollar, American citizens and American multinational corporations are going to be dealing with CBDCs in the years to come. Barring the U.S. from CBDC exploration will neither hinder nor stop the global deployment of CBDCs.
“It’s clear that the global economy in the twenty-first century will encompass a spectrum of both sovereign and non-sovereign digital currencies. The Digital Dollar Project encourages the U.S. to assert principled leadership at home and abroad in order to embed democratic principles and protections in rapidly developing global payments systems.”
J. Christopher Giancarlo, Former Chairman of the U.S. Commodity Futures Trading
Commission and Co-Founder of the Digital Dollar Project
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