The Fed’s Digital Dollar Would Be “Nightmareville” for Privacy

Source: Reason
by Ella Lubell

“The U.S. government is thinking about creating an electronic currency backed directly by the dollar, an idea dubbed the ‘digital dollar’ or ‘Fedcoin.’ Such a step could severely damage trust in the dollar and risk Americans’ privacy. … Competitive private sector organizations have at least some incentive to prioritize privacy, as we’ve seen in the cryptocurrency market. The federal government has little such incentive.” (06/10/21)