In 2020, digital currencies had been one of many hottest subjects on the town. China was properly on its method to launching its personal central financial institution digital forex, or CBDC, and lots of different nations launched CBDC analysis initiatives. Even Fb has proposed a worldwide digital forex, referred to as Libra.
Few eyebrows had been raised when the Boston department of the US Federal Reserve introduced a venture to analysis how a CBDC may be technically designed. A hypothetical US central financial institution digital forex was hardly controversial, in spite of everything. And the US couldn’t afford to be left behind.
How issues change. Three years later, the digital greenback—although it doesn’t exist——has change into political pink meat, as some politicians label it a dystopian software for surveillance. And late final 12 months, the Boston Fed quietly stopped engaged on its venture.
So is the dream of the digital greenback lifeless? Learn the total story.
—Mike Orcutt
Introducing MIT Expertise Overview Roundtables
I’m excited to announce that MIT Expertise Overview is launching a brand new participatory subscriber-only on-line occasion collection referred to as Roundtables. They’re 30-minute month-to-month conversations with our writers and editors aimed toward maintaining you knowledgeable about rising tech like synthetic intelligence, biotechnology, local weather change and extra.
The primary, on August 10, will characteristic David Rotman, MIT Expertise Overview editor at giant, in dialog with editor in chief Mat Honan, and so they’ll be discussing AI’s affect on the financial system. The second, on September 12, I (Charlotte, our information editor!) will probably be chatting with Melissa Heikkilä, our senior reporter for AI, a few subject she has baggage of perception into: How ought to we regulate AI?
