Bank of New York is testing a digital dollar

3 years ago

The Federal Reserve Bank of New York has announced the start of testing the digital dollar (CBDC). The process will begin on November 16, 2022 and will last for the next 12 weeks. 2 banks - Citigroup and Wells Fargo, as well as financial corporation Mastercard became partners in work.

The Federal Bank set the task to study the benefits of using accelerated settlements, as well as test the operation of smart contracts within the financial system. To avoid technical hiccups, the test team is not eager to bring CBDC to market as soon as possible. In the plans - a thorough check of all points. This stage will show the prospects for the development of the digital dollar within the country.

Rewards

More rewards

Discover enhanced rewards on our social media.

Recoveris: Blockchain Forensics, Crypto Investigations, and Asset Recovery Solutions

Recoveris is a blockchain platform for crypto investigations, digital asset recovery, and legal reporting using advanced forensics, AI analytics, and regulatory-compliant tools.

Elena Ryabokon4 hours ago

Gyld Finance: A decentralized hub for managing liquidity and revenue

New projects are regularly launched in the DeFi space. Gyld Finance is a promising protocol that offers unique solutions for liquidity management and passive earning through a dual token system and efficient farming.

Max Nevskyi4 hours ago

Suzaku Token — Decentralized Security Infrastructure for Avalanche-Based L1 Networks

Suzaku Token, Suzaku Protocol, SUZ, restaking, Avalanche, Layer 1, blockchain security, validators, staking, SuzakuRN, Web3 infrastructure, tokenomics, decentralization

Elena Ryabokon7 hours ago

HypeDuel: A New Era of Social Trading and Prediction Battles in the Crypto Market

HypeDuel is a new step in the evolution of Play-to-Earn. The platform turns trading into gambling duels, where you can make money on accurate price forecasts. Combines DeFi, gamification and social interaction.

Max Nevskyi10 hours ago

Credit Coop Overview: Web3 Lending with On-Chain Revenue Distribution

Credit Coop is a Web3 protocol for decentralized lending backed by future revenues. Explore its Spigot system, smart contract architecture, metrics, and on-chain credit innovation.

Elena Ryabokona day ago

MIMBO Review — Web3 Gaming Platform with Node Mining and $MGG Token on BNB Chain

In-depth overview of MIMBO — a Web3 game with node mining, $MGG tokenomics, and NFT integration on BNB Chain. Explore mechanics, economy, infrastructure, and future outlook.