Two Republican Lawmakers French hill and Bill foster wrote a formal letter to the FED asking about the plans of a Digital dollar and proposing it.
PDF to the letters
Facebook's Libra has been mentioned to justify the need
"The Facebook/Libra proposal, if implemented, could remove important aspects of financial governance outside of US jurisdiction."
“We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies. Internationally, the Bank for International Settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a digital currency.”
“With the potential for digital currencies to further take on the characteristics and utility of paper money, it may become increasingly imperative that the Federal Reserve take up the project of developing a U.S. dollar digital currency.”
Would it influence the FED to release a block-chain based currency? What are you thoughts on them?
