The creation of the digital dollar may preserve the primacy of the U.S. among other countries that have already issued their digital coins. Lael Brainard, deputy chairman of the U.S. Federal Reserve, made the announcement.
«We shouldn't take our high position for granted», Brainard said.
Not everyone in leadership supports the idea. Some believe that dollar transactions have already gone digital, and the new coin could threaten people's anonymity.
Whether the digital dollar will be released is not yet known. The project will be launched only with the consent of the White House and Congress.
According to the deputy chairman of the Fed, the launch of the digital dollar could take 5 years.