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Exploring the Potential of a Digital Dollar
The chapter delves into the concept of digital dollars and their advantages over traditional bank accounts, discussing the security provided by the Federal Reserve and the potential automation of transactions through blockchain technology. It addresses impediments to implementing a central bank digital currency in the United States, focusing on concerns around privacy and government access to payment information. The discussion also touches on the global trend towards central bank digital currencies, citing examples from countries like the Bahamas and China.
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