Should the Fed Create ‘FedCoin’ to Rival Bitcoin? A Former Top Official Says ‘Maybe’

Should the Fed Create ‘FedCoin’ to Rival Bitcoin? A Former Top Official Says ‘Maybe’

Central banks are met with the issue of cryptocurrencies. If a central bank like the Fed entered the game with their own version of a digital coin, it could be an new way to conduct legal activity in an effective manner. This type of technology could also be useful in the transfer of money between banks.

A digital currency could have significant appeal in the world economy and could dramatically change monetary policy. . The issue here is keeping the value of money stable.

Central banks weighing the pros and cons of a similar to Bitcoin currency is a look into the next generation.

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