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Greek News. All Archaeology Art Charity Crime. Dollar Going Digital? Is the U. By Philip Chrysopoulos. October 10, A US dollar bill. Related Posts. Coronavirus Cases Remain High in Greece. This scheme indirectly hinted to the possibility of creating the US CBDC in order to make the payment allocation possible.

However, no practical measures for implementing the initiative have been reported until now. Mester commented on the framework developed by the House of Representatives:. Despite practical efforts being made by the US Federal Reserve, the US citizens seem to still be cautious about this new digital form of money.

A survey made by Genesis Mining hashpower provider, showed that only However, as compared to , this showed a significant increase of interest in digital money. Back then, only At the same time, the number of those undecided increased from This proves that the overall rapid digitization has forced people to explore virtual means of payments as a viable alternative to fiat money.

Despite the CBDC will have little resemblance to cryptocurrencies such as bitcoin due to its centralized and fully controlled nature, its full-scale launch would give a country a significant economic advantage. For this reason, many central banks have been exploring the potential of CBDC. For now, China has come the closest to actually launching its digital yuan.