Monday, February 07, 2022

Digital Dollars

NPR: "The U.S. is considering a radical rethinking of the dollar for today's digital world"

In that scenario, the U.S. would not only mint the coins and print paper bills. It would also issue digital cash, or a central bank digital currency (CBDC), that would be stored in apps or "digital wallets" on our smartphones.

We could then use them to pay for things, just like we do with Venmo or Apple Pay, and no actual physical money would change hands.