In accordance with a recent article published by Bloomberg, MIT and the Boston Federal Reserve Bank are preparing to reveal the Digital USD Research Results. The article said that the institutions are preparing to reveal the research results into the potential launch of the Digital USD and the Wall Street is not happy. Wall Street Worried as Fed to Release USD Research Results With the recent release of the article, Wall Street is worried that it may be left out of the new prototype for money usage in the United States. According to the recent report, the Federal Reserve of Boston and MIT have been preparing to reveal the research results into the digital USD in July. In addition to this, James Cunha, the head of the project, disclosed that the two institutions were busy creating paradigms for a digital dollar platform. As new inventions and alterations are not always welcomed, the traditional financial world is also resisting to adapt to the new changes. Fear of being left out of the latest venture of how Americans will be using the money after digitization. Traditional financial systems have even knocked on the doors of Congress suggesting that the U.S. economy is not in any need of a digital dollar. Interaction of Digital USD With International Payments Network An analyst from Compass Point Research & Trading LLC, Michael Del Gross, has a strong belief that the concern of Wall Street is regarding the new form of payment. There are chances that it may leave the present market giants behind and will lead to the generation of new players in the market. Although the U.S. and many other countries seem to be convinced with the fact that the digitization of national currencies is necessary, it is scaring the existing traditional financial giants. Central Bank Digital Currencies (CBDCs) will make sure that the customers are not exposed to any kind of threat. Additionally, the government is looking closely at the creation of digital currencies.
The post Wall Street Not Happy as Fed and MIT Prepares to Reveal Digital USD Research Results appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
