Digital Dollar Project

LEADING THE DISCUSSION ON A U.S. CENTRAL BANK DIGITAL CURRENCY

The Digital Dollar Project is a partnership between Accenture (NYSE: ACN) and the Digital Dollar Foundation to advance 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 moderate programs with interested stakeholders to measure the value of and and establish practical steps that can be taken to establish a digital dollar.

DIGITAL DOLLAR PROJECT TO LAUNCH PILOT PROGRAMS TO EXPLORE DESIGNS AND USES OF A US CENTRAL BANK DIGITAL CURRENCY

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.”

A non-profit partnership between Accenture (NYSE: ACN) and the Digital Dollar Foundation, the DDP was created last year to encourage research and public discussion on the potential advantages of a U.S. CBDC — a new form of money designed specifically for the digital world that complements the existing forms of physical and electronic monies.

DIGITAL DOLLAR PROJECT PUBLISHES WHITE PAPER: EXPLORING A US CBDC

The white paper proposes a tokenized U.S. digital dollar, outlines the benefits of a CBDC in the context of the U.S. dollar (USD), and proposes potential use cases and pilots. With interest in a CBDC growing among governments, central banks, multilateral organizations, and other stakeholders, the Project believes there is enough research and evidence to support a “champion-challenger” approach, with the Project exploring how a champion model of a tokenized USD will provide societal and economic benefits that also:

• operates alongside existing monies

• is primarily distributed through the existing two-tiered architecture of commercial banks and regulated money transmitters

• is recorded on new transactional infrastructure, potentially informed by distributed ledger technology

Project Directors

The Digital Dollar Project has been created to formally lead the initiative of educating policy makers, organizing key industry stakeholders, and proposing a U.S. CBDC strategy.  The Project’s directors are renowned industry experts and blockchain advocates who have been leading global discourse on cryptocurrencies and digital assets.

Adrienne Harris is a professor of practice at the Ford School, with support from the Towsley Foundation Policymaker in Residence program. The former chief business development officer and general counsel at States Title, Inc., she brings deep experience in financial reform, financial technology, cybersecurity, consumer protection, and housing finance reform. She previously served as special assistant for economic policy to President Obama at the White House National Economic Council, focusing on issues including financial reform, financial technology, and housing finance reform. Harris also served as senior advisor to the Deputy Secretary in the U.S. Department of Treasury, and represented financial institutions and other corporations as an associate at Sullivan & Cromwell LLP. She also sits on the Board of Directors of the Financial Health Network and of Homie, a prop-tech company. She is an advisor to several fintech and prop-tech companies. Harris earned her JD from Columbia Law School, her MBA with specializations in economics and management from New York University, and her BA from Georgetown University.

@CodeXCoasts | Website

Charles (“Charlie”) H. Giancarlo is an entrepreneur, investor, and executive. He is currently the Chief Executive Officer of Pure Storage (NYSE: PSTG). He formerly served in senior executive roles at Cisco Systems (Nasdaq: CSCO) and Silver Lake Partners, the private equity firm.  Giancarlo earned a bachelor’s degree in electrical engineering from Brown University in 1979.  He also earned master’s degrees in electrical engineering and business administration from UC Berkeley and Harvard University respectively.

Wikipedia

J. Christopher Giancarlo is Senior Counsel to the law firm Willkie Farr & Gallagher and the former Chairman of the U.S. Commodity Futures Trading Commission (CFTC).  Mr. Giancarlo also served as a member of the Financial Stability Oversight Committee (FSOC), the President’s Working Group on Financial Markets, and the Executive Board of the International Organization of Securities Commissions (IOSCO).

Mr. Giancarlo serves on the Advisory Board of the Chamber of Digital Commerce and as an independent director of the American Financial Exchange.  He is also Chairman of the Board of Common Securitization Solutions, Inc. Under his leadership, the CFTC published primers on virtual currencies and smart contracts, oversaw the launch of the first bitcoin futures contracts and created LabCFTC as the agency’s stakeholder in the digital evolution of derivatives trading markets.

@giancarloMKTS | Wikipedia

Daniel Gorfine is Founder and CEO of Gattaca Horizons LLC and Adjunct Professor of Law at the Georgetown University Law Center teaching FinTech Law & Policy.  He previously served as the CFTC’s first Chief Innovation Officer and Director of LabCFTC. Prior to the CFTC, Gorfine was Vice President, External Affairs & Associate General Counsel at OnDeck.  A graduate of Brown University (A.B.), Gorfine holds a J.D. from the George Washington University Law School and an M.A. from the Paul H. Nitze School for Advanced International Studies (SAIS) at Johns Hopkins University.

@DGorfine | LinkedIn

Dave Treat is a Senior Managing Director, co-Lead of Accenture’s Blockchain Business and Accenture Lead of the NY Fintech Innovation Lab. Dave has over 20 years of experience in Financial Services roles spanning Capital Markets, Retail Banking, and Cards. He serves on the Board of Directors for the Linux Hyperledger Project, Enterprise Ethereum Alliance, Global Blockchain Business Council and the ID2020 Alliance, is a member of the World Economic Forum C4IR Global Blockchain Council and is a program advisor for the Chamber of Digital Commerce. David also serves as the Program Advisor for the World Economic Forum’s Digital Identity Initiative and the Known Traveller Digital Identity project.

@DBTreat | LinkedIn

PROJECT PARTNERS

The Digital Dollar Project is a partnership between Accenture and the Digital Dollar Foundation to advance exploration of a United States Central Bank Digital Currency (CBDC).

Accenture is a global professional services company with leading capabilities in digital, cloud, and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology, and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners, and communities. Visit us at www.accenture.com.

The Digital Dollar Foundation is a not-for-profit organization created to support the Digital Dollar Project’s efforts to advance exploration of a United States Central Bank Digital Currency in order to advance the needs of global financial systems and consumers. The Foundation is led by the Honorable J. Christopher Giancarlo, Charles H. Giancarlo and Daniel Gorfine.