La Federal Reserve of the United States (Fed) discloses an investigation into the potential benefits and risks that a tenant may have digital dollars.
Advirtió that the document is a prime step to promote a public dialogue, amplio and transparent about the theme and subtraction that “there is no intention to proceed with the issuance of a digital currency without the clear support of executive power and congress, ideally in form of a specific authorization license ”.
In the document, titled The US Dollar in the age of digital transformation (A digital dollar in the era of digital transformation), established as a digital currency of the Central Bank (CBDC, by its English seal) could change the structure of the United States financial system, changing the roles and responsibilities of the private sector and of the central bank ”. Basically, the risk can be in the maneuver of monetary policy.
La Fed consider in the document that a digital dollar “tends to complement and not replace, the current forms of money as well as the methods of payment for the provision of financial services”.
Además, un digital dollars should operate both criteria for ensuring the privacy of the user, the consumer and provide a legal framework that limits its use to criminal activities.
Benefits and risks
Among the benefits that find the Fed for one digital currency of the central bank, it is that “it can proportion the hogares and the companies an electronic and convenient form of money, with the security and liquidity that is implied”.
In particular, “it would increase the access of consumers to financial system (which in Mexico is known as to increase financial inclusion).
Among the benefits for businesses, the document deprives them of the possibility of creating new products and financial services, which are paid in a more rapid and economical way, in order to deal with overdrafts.
Between the giants, find the Fed an impact on the structure of the financial market, the cost and availability of the credit as well as the security and stability of the financial system and the efficiency of monetary policy.
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Reference-www.eleconomista.com.mx