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