Former Heads of CFTC, Accenture Join Digital Dollar Project Board

The Digital Dollar Project today announced its first advisory group members, who will help guide the framework for practical steps that could be taken to establish a U.S. Central Bank Digital Currency (CBDC).

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A partnership between Accenture and the Digital Dollar Foundation, the Digital Dollar Project was created to encourage research and public discussion on the potential advantages of a CBDC — or a “digital dollar.”

The Project will identify options for a CBDC solution to help enhance monetary policy effectiveness and financial stability; provide needed scalability, security and privacy in retail, wholesale and international payments; and integrate with existing financial infrastructures, including U.S. Federal Reserve-related projects.

The Digital Dollar Project’s 22 new advisory group members — a list of whom can be found at https://www.digitaldollarproject.org — include prominent businesspeople, economists, former regulators, technology luminaries and educators who represent a cross-section of distinguished experts in the fields of banking, capital markets, international standards, anti-money laundering, monetary policy, national security, and privacy and property rights.

The Digital Dollar Project will explore design options and approaches for a CBDC through a deliberative process, including stakeholder meetings, roundtable discussions and open forums.

The Project is headed by J. Christopher (“Chris”) Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC); Charles Giancarlo, an entrepreneur, investor and executive who is currently CEO of Pure Storage; and Daniel Gorfine, founder and CEO of Gattaca Horizons LLC, adjunct professor of Law at the Georgetown University Law Center, and former chief innovation officer at CFTC.

Chris Giancarlo, Digital Dollar Project

Accenture is the lead architect and technology innovation partner of the not-for-profit Digital Dollar Foundation, which was launched earlier this year.

David Treat, Accenture

The Project’s next step will be to develop a white paper proposing core elements and the value proposition of a digital dollar, which the group plans to release in the next two months.

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