Coronavirus Stimulus Includes New Digital Dollar

The U.S. House of Representatives is investigating the use of a digital dollar in response to the coronavirus pandemic.

// STAY UP TO DATE — FOLLOW BLOCKCHAIN DAILY ON TWITTER: @BLCKCHAINDAILY

A draft of the legislation proposed the creation of digital wallets within a section entitled “Direct Stimulus Payments for Families.”

According to the section, every adult earning less than $75,000 a year would receive monthly payments of $2,000 until the economy recovers.

It is unclear whether the digital dollar will utilize blockchain technology at this time.

The proposal also states the federal reserve will maintain all digital dollar wallets.

The massive bill, well over 1,000 pages, will distribute approximately $1.8 trillion.

On March 22, Senate Democrats blocked a Republican bill that did not mention digital dollars, stating the bill favored big business bailouts at the expense of the U.S. taxpayer.

Stay tuned to Blockchain Daily, as more details regarding the digital dollar will be announced in the coming days.

Updated : The final version of the economic stimulus package offered by Speaker Pelosi the House Democrats no longer includes the U.S. Digital Dollar proposal; however, the language as proposed by Chairwoman Waters of the House Financial Services Committee still contains this language.

// CLICK HERE FOR MORE BLOCKCHAIN NEWS

Donate BTC: 13xyfdE1ERCu6ZaZ6Ejj7x6B7au8GJXont (Click for QR)
ERC 20: 0x3930890DC36E40e17c280aF5A80cEAC30732cFB9 (Click for QR)

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store