Is the US Creating a Central Bank Digital Currency
FOREWORD
The US government has been exploring the creation of a Central Bank Digital Currency (henceforth, CBDC), something that other central banks across the globe have also been considering. However, there is no timeline and/or certainty that it will actually decide to move in this direction. With this and all of the noise earlier this year regarding the future of the US dollar in mind, we have decided to write about the potential creation of a CBDC. But before discussing whether this is a good idea, let’s discuss what the functions of money are and try to figure out if there is any value in the creation/implementation of a CBDC by the US government.
