The Digital Dollar Project

Global Blockchain Business Council (GBBC) is delighted to share we have partnered with the Digital Euro Association (DEA), a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money with a focus on the digital Euro. This alliance represents a pivotal collaboration aimed at enhancing the understanding and deployment of blockchain technology and digital currencies across the globe. GBBC’s Emma Joyce, Head of EMEA and Senior Managing Director, Financial Services, shared, “GBBC is delighted to partner with the Digital Euro Association, a leading independent think tank. We look forward to working together with our community on advancing education and promoting a greater understanding of digital money, and the intricacies surrounding regulation on this topic." Read the full announcement 👉 https://lnkd.in/d-Grj7b2 This announcement marks the third partnership for GBBC with digital money think tanks. We are thrilled to support the dedication and momentum behind The Digital Dollar Project (DDP), Digital Pound Foundation (DPF), and Digital Euro Association. 🇺🇸 Learn more about DDP: https://lnkd.in/eMQGqNsy   🇬🇧 Learn more about DPF: https://lnkd.in/e9F-d8bi   🇪🇺 Learn more about DEA: https://lnkd.in/d2KYs9y #digitalEuro #digitalPound #digitalDollar 

The timing of the most recent The Digital Dollar Project Advisory Board meeting last week at Accenture's New York Headquarters was sandwiched around significant, polar opposite headlines on #cbdc. While the US congress made news with the shortsighted "CBDC Anti-Surveillance State Act" to close the month of May, last week ended with the news that Saudi Arabia has formally joined the Bank for International Settlements – BIS "mBridge" CBDC pilot, a collaboration that could set the stage for oil commodity trading settlements to move away from USD. Special thanks to Jennifer B. Lassiter and her team for curating this timely convening that continued to examine the complicated and highly nuanced subject of central bank digital currencies in such a sober and thoughtful way. J. Christopher Giancarlo Luke Giancarlo David Kretz Jessica Renier Karen L. Ottoni Bretton Woods Committee Michael Wagner Adriana Ennab Kene Ezeji-Okoye Carole House Bretton Woods Committee Katherine Haar Alma M. Angotti Michelle Ann Gitlitz Kevin Chen NYU School of Professional Studies Volatility and Risk Institute at NYU Stern Adam Brown Ted Jenkin Jonathan Oggiono Brandon Neal Talha Khan KAPSARC School of Public Policy Marc Beckman Michael Scarpa George Chrisafis Peter Luksin

Let me preface this with the most important point of this post: we need more women who are financial professionals to learn about digital assets. I'm not saying they need to invest or advise their clients to invest. However, they must know about the subject matter in order to make an informed decision. Last week, I was privileged to speak at and attend the Digital Assets Council of Financial Professionals VISION conference in Austin. It was fantastic, and I met THE Ric Edelman, CBDA! 😃 👊 The conference was fantastic; it really seeks to educate Financial Professionals about digital assets. It didn't stop at Bitcoin; it didn't just talk about ETFs, and it didn't just have people who were pro-crypto (you know I love honest, objective discussions that discuss the nuances! 😉 ) They featured a diverse range of speakers, each with their unique expertise, such as J. Christopher Giancarlo, former CFTC Chair and head of The Digital Dollar Project, and U.S. Rep. Wiley Nickel from the House Subcommittee on Digital Assets, Financial Technology, and Inclusion. But the most valuable parts were the practical discussions on communicating responsibly with clients about this asset class, how to invest, the different methods, and the different coins—it was real training. They covered the benefits and the risks, the positive aspects and the negative, and they had an honest conversation about what this asset class will look like for their profession in the next few years. The conference even had a Women's Lunch, and we ran a fantastic networking session. We also got to hand out swag bags featuring our #unmanelyourpanel pins and swag from some of our incredible sponsors, BDO, Asset Reality, Elliptic, and TaxBit. 🙏 And while the women's lunch was full, the room wasn't full enough! We need more women getting this education. So, while I can't wait for VISION2025, my goal is to double the size of that lunch by next year. 😍 Thankfully, I have full faith that Maribeth Bluyus, Don Friedman, CBDA, and the rest of the amazing DACFP team will help us get there! Thanks again for having me and the Association for Women in Cryptocurrency! We met many amazing women at our booth and got some fantastic swag from other tables. 😉 (Fidelity Digital Assets, your purple water bottles... 😍 🔥 🔥🔥). #womenincrypto #unmanelyourpanel #womenfinancialprofessionals

This Thursday, June 6th, join us from 5:30-7:00 PM in Washington DC for an exclusive fireside chat on the future of finance and digital currency with Michelle Ann Gitlitz, author of “Reimagining Payments: The Business Case for Digital Currencies” and co-panelists Jennifer B. Lassiter, Executive Director of the Digital Dollar Project, and Alan D. Cohn, Chair of the Financial Innovation and Regulation Practice at Steptoe. Following the discussion, join us for a book signing and networking with cocktails and light fare. RSVP to confirm your attendance: 🔗 https://lnkd.in/eRszbc-k 📅 June 6th, 5:30 7:00 PM EST 📍 1330 Connecticut Ave. NW, Washington DC, 20036

ICYMI J. Christopher Giancarlo, former CFTC Chairman and Digital Dollar Project Board Chair delivered a keynote speech at the Blockworks Digital Asset Summit 2024 in London raising the question of whether this new Internet of Value will truly enhance our economic #liberty and financial #freedom. "Key features like individual economic privacy and censorship resistance should not only be inherent but also competitive advantages in digital systems of value, reflecting the ethos of free societies and open economies. By integrating economic #privacy into their architecture, CBDCs and stablecoins can become preferred tools for those seeking financial autonomy and inclusion—aligning with fundamental human rights and civic values." Check out the full keynote: https://lnkd.in/es_K6bDp

This week, Accenture, in partnership with the World Economic Forum, released a report, "Modernizing Financial Markets with Wholesale CBDC," developed with insights from over 100 experts, including David Treat, Co-founder of the Digital Dollar Project and Senior Managing Director and Incubation Lead at Accenture, as well as Jennifer B. Lassiter, Executive Director of the Digital Dollar Project. By examining industry challenges, this report offers a view into the unique possibilities for wCBDCs in financial markets and provides a foundation to facilitate essential discussions between public and private sector leaders. "In an era with many digital currencies like deposit tokens and stablecoins, it's critical to equip decision makers with insights for navigating where these solutions can unlock value and clarify the role central bank money in the next generation of financial markets," Cam Nili, Fellow at the World Economic Forum and Digital Assets Strategy Director at Accenture. To read more about the potential application of wCBDCs including 24/7 markets, currency diversification, settlement data mutualization, and tokenized securities, read the full report: https://lnkd.in/eeBk2YZA A special thanks to all the contributors and leaders of this project, including Cam Nili, Kathryn White, Sandra Waliczek, and many others who have played a pivotal role in shaping this initiative. For more information on how to get plugged into the conversation and join Digital Dollar Project's second global convening, fill out an interest form at: https://lnkd.in/e_hypEPk

📢 We're proud to unveil our latest collaborative effort, "Standards and Interoperability: The Future of the Global Financial System," co-authored with the Atlantic Council. This work springs from our productive discussions during the jointly hosted global convening in November 2023. Digital currencies in their promise and potential, are emblematic of a broader shift—a movement towards a more efficient, frictionless digital infrastructure, shaping the future of international trade, cross-border payments, and global financial integration. However, with transformative potential comes inherent complexity. As fiat currencies become more intertwined with technology, there are significant implications for #privacy, human rights, #cybersecurity, digital financial inclusion, and the movement of money across borders for international trade, aid, investment and other payments. If designed without a common framework of #standards and collaboration, a shortsighted and fragmented approach to digital currency development could lead to the emergence of walled gardens. As G20 payments working group's targets evolve to include the digital asset ecosystem, we elaborate on the key themes that new standards will need to address. Check out our comprehensive section on existing work on standards, which looks at the role of IMF, FATF, FSB, IOSCO, SWIFT and others in the future of the financial ecosystem. Additionally, for the full recap of the 2023 global convening, "Exploring Central Bank Digital Currency: Evaluating Challenges & Developing International Standards" and pre-register for 2024 check out: https://lnkd.in/e_hypEPk Thank you Jennifer B. Lassiter, Katherine Haar, Ananya Kumar, and Alisha Chhangani for your incredible work! J. Christopher Giancarlo David Treat Charles Giancarlo Daniel Gorfine Elizabeth Gray Dominic Paolino

📣 New #opensource research repository for #emergingtech + #economics now available! The Digital Dollar Project #futureofmoney #digitaldollar

Very interesting development regarding #privacy for #Americans. I look forward to reading the draft bill with an eye for how the language will convey to #financialsystems particularly #digitalcurrencynetworks. The draft is linked in the comments as well as in the article. The Digital Dollar Project #futureofmoney #cbdc #womenintech #futureofprivacy

Yesterday, the Federal Reserve Bank of Philadelphia released survey results from "Central Bank Digital Currencies: Consumer Attitudes and Expectations in the United States" summarizing findings of 4,691 participants across the U.S. on their views, preferences, and anticipatory behaviors concerning a potential U.S. #CBDC. While the Digital Dollar Project does not advocate for the deployment of a CBDC, understanding the evolving attitudes and perspectives remains crucial for all stakeholders involved in advancing digital monetary innovations in all forms. Key takeaways from the survey showed that: 👨💻 52.6% of respondents are open to the idea of CBDCs. 🌏 Younger individuals (55 years and under), those with higher incomes ($75,000 or more), non-White respondents (notably Black and Hispanic communities), and males displayed a higher likelihood of being receptive to CBDCs. 🛠 Among those who are warm to a CBDC, features that stand out as the most important for those consumers included💲Not paying fees to use a CBDC (63%) 🛒 widespread acceptance of a CBDC in the marketplace (57%) 🔏 #Privacy of payments (42%), 💸 ability to earn #interest (39%), and 💳having a physical card (34%). Cited less frequently included, money transfers within the US (26%), #offline payment ability (23%), and money transfers outside of the US (10%). 🛍 The survey indicates a strong interest in using CBDCs for online shopping, in-person payments, and person-to-person transactions, with more than 60% of respondents expressing willingness to use CBDCs in these contexts. ⛔ The top concerns include worries about lack of wide #acceptance (39.7%) and #security (35%). 💼 Of respondents who indicated that they would hold assets in a CBDC, 51% would hold less than $500; an additional 26% would hold between $501 and $1,000; and 22% would hold more than $1,000. 🏦 Of respondents who indicated that they would hold assets in a CBDC, respondents indicated that they would most likely reduce balances in cash and traditional retail bank accounts. Dive into the full report: https://lnkd.in/ebBCjpXP Jennifer B. Lassiter Katherine Haar