In 2020, digital currencies had been one of many hottest subjects on the town. China was nicely on its approach to launching its personal central financial institution digital forex, or CBDC, and plenty of different international locations launched CBDC analysis initiatives. Even Fb has proposed a worldwide digital forex, known as Libra.
Few eyebrows had been raised when the Boston department of the US Federal Reserve introduced a challenge to analysis how a CBDC is likely to be technically designed. A hypothetical US central financial institution digital forex was hardly controversial, in any case. And the US couldn’t afford to be left behind.
How issues change. Three years later, the digital greenback—regardless that it doesn’t exist——has develop 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 challenge.
So is the dream of the digital greenback lifeless? Learn the complete story.
—Mike Orcutt
Introducing MIT Know-how Overview Roundtables
I’m excited to announce that MIT Know-how Overview is launching a brand new participatory subscriber-only on-line occasion collection known as Roundtables. They’re 30-minute month-to-month conversations with our writers and editors aimed toward retaining you knowledgeable about rising tech like synthetic intelligence, biotechnology, local weather change and extra.
The primary, on August 10, will characteristic David Rotman, MIT Know-how Overview editor at massive, 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!) can 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?
In 2020, digital currencies had been one of many hottest subjects on the town. China was nicely on its approach to launching its personal central financial institution digital forex, or CBDC, and plenty of different international locations launched CBDC analysis initiatives. Even Fb has proposed a worldwide digital forex, known as Libra.
Few eyebrows had been raised when the Boston department of the US Federal Reserve introduced a challenge to analysis how a CBDC is likely to be technically designed. A hypothetical US central financial institution digital forex was hardly controversial, in any case. And the US couldn’t afford to be left behind.
How issues change. Three years later, the digital greenback—regardless that it doesn’t exist——has develop 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 challenge.
So is the dream of the digital greenback lifeless? Learn the complete story.
—Mike Orcutt
Introducing MIT Know-how Overview Roundtables
I’m excited to announce that MIT Know-how Overview is launching a brand new participatory subscriber-only on-line occasion collection known as Roundtables. They’re 30-minute month-to-month conversations with our writers and editors aimed toward retaining you knowledgeable about rising tech like synthetic intelligence, biotechnology, local weather change and extra.
The primary, on August 10, will characteristic David Rotman, MIT Know-how Overview editor at massive, 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!) can 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?
