Former CFTC Chairman Giancarlo’s Digital Dollar Project Adds 22 Members to Advisory Board

2020-3-27 00:33

Digital Dollar Foundation, an outfit that is pushing for the creation of a digital dollar in the US, has now announced its board of advisors. The foundation is led by ex-CFTC executives Chris Giancarlo (aka Crypto Dad) as well as Daniel Gorfine who has also roped in Accenture.

According to a press release, the new board of advisors was unveiled on Thursday and consists of 24 people who will work together towards the development of a US CBDC.

The advisory board brings together experts with broad backgrounds in both the finance industry as well as payment technologies. Some of the members include exCFTC commissioner Sharon Bowen, Usman Ahmed who is PayPal’s policy official, fintech law professor Chris Brummer, Sheila Warren who is the head of blockchain efforts in the World Economic Forum (WEF), as well as DRW’s CEO Don Wilson. As well as the former Treasury Undersecretary in charge of Terrorism and Financial Intelligence, Sigal Mandelkar and former President Trump’s adviser Tim Morrison.

The Digital Dollar Foundation looks forward to advocating for research as well as discussion on the possible benefits that comes with the use of a US CBDC. The new board will explore how a digital dollar will operate as well as scale. The group will also explore if a digital dollar can be utilized in private transactions.

Giancarlo explained that the board consists of individuals from different sectors who are experts in monetary policy, commercial and central banking, privacy law, KYC/AML, economics, tax and other relevant disciplines that are crucial in the exploration of how a digital dollar will be used and its impact on the US and the global economy. Giancarlo explained:

“The insights and expertise of the new advisory group members will be invaluable as we work together to help make the dollar a more effective and smarter currency in an increasingly digital global economy.”

The developments come as legislators are haggling on how a digital dollar which is non-crypto can help in the distribution of funds to US citizens at a time when the world is fighting the Corona pandemic.

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