“Programmable Dollars”
New York #Fed And 12 Banking Giants Launch Digital Dollar Test
According to a statement by the New York Fed, global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, The project, which is called the "regulated liability network", will allow banks to simulate issuing digital money representing their customers’ own funds before settling through central bank reserves on a distributed ledger, the New York Fed said. The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.
