Ex-CFTC chief’s Digital Dollar Initiative adds 22 new advisors and will release a white paper in the next two months. The Digital Dollar is serious as never, as ex-CFTC, FED, Treasury board directors join the venture.
Chris Giancarlo is gathering the industry’s top minds around what could soon become the Bitcoin killer for institutions. The Digital Dollar initiative is serious as never, as ex-CFTC, Treasury board directors join the venture. Digital Dollar Foundation (DDF) issue a press release claiming that they now have 25 advisors, among them – former regulators, bankers, big business people, and crypto enthusiasts.
“The insights and expertise of the new advisory group members will be invaluable as we work together to help make the dollar a more effective and smarter currency in an increasingly digital global economy.”
Industry Top Minds Join Best Blockchain Games
The wide list of members includes stars like Sharon Bowen, a former commissioner from the CFTC, Don Wilson of DRW Diversified Trading, Tim Morrison, who had served with the U.S. President Donald Trump, and Lawrence Rufrano, a former Federal Reserve Board member. The people from banks and crypto business include Ramon Martin Chavez from Goldman Sachs, PayPal‘s Policy Executive Ushman Ahmed, and Cointelegraph occasional contributor and Georgetown University professor, Chris Brummer. Valerie Abend, Managing Director at Accenture, has joined the board too.
If you ever wonder why smart people didn’t want to participate in a wave of useless ICO projects, here’s the answer. The top minds of the monetary industry were waiting for the top opportunities. Unlike many of the ‘internet billionaires’ like Pavel Durov or Mark Zuckerberg, they knew that performing fraudulent ICO’s is bad.
As the famous U.S. based crypto educator Joshua Unseth says, ICO space is ‘where even one star is too many’.
Digital Dollar Whitepaper Will See Lights in Q2, 2020
The Foundation had it’s first meeting recently. They have announced that the roadmap will see light in about two months. The white paper will hold specifications on CBDC, featuring the ‘core elements and the value proposition of a digital dollar.’
However, the SEC and the CFTC are chasing many of the cryptocurrency scammers over recent 2-3 years. They are doing so because people complain about fraud. Also, because some of the scammers are so stupid they apply for official registration of their dirty business. In some countries, scammers have the entire banks under their jurisdiction, and nobody seems to notice.
But this is not how America works. In Europe, people cash out first, then the government is cashing out. In America, the Government is cashing out, then the people are cashing out. And that’s the law, you cannot do anything about it. It’s not Somalia, not even Egypt. Many of the countries have more freedom than the U.S., but that freedom comes at great cost. Probably, like the freedom of spontaneous ICO token creation.
Currently, there is one digital dollar related proposal in the U.S. Senate, as well as two of the similar proposals, are in the House of Representatives. The bills explain how digital money working on blockchains useful in distributing funds to people during coronavirus.