The Fed’s digital U.S. Dollar will happen. The question is which FinTech firms and traditional Financial Institutions will best leverage it.
The Fed will quickly become a FinTech firm and Consumer Depository Institution of primary importance once it goes live with its digital U.S. Dollar. A whole new slate of FinTech firms will rise, building their companies on top of the Fed’s digital USD platform. Existing FinTech firms and traditional banks have the same opportunity – it is simply a question of which firms will do the necessary work required to build a relationship with the Fed insofar as its digital USD effort is concerned (the Boston Federal Reserve is spearheading the effort), as well as to understand Distributed Ledge Technologies / Blockchain at a nuanced level.
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ARTICLE: A Digital Dollar Is Coming