What might a central bank digital currency (CBDC) look like? And how would it work? Eight Caribbean countries and Nigeria are the only countries so far that have fully launched a CBDC. As many as 90 other countries are at some stage of evaluation. While the Federal Reserve Board of Governors has not expressed any intention to launch a CBDC, it issued a white paper in January this year to kick off a discussion about it with payment stakeholders. The Board is asking for input by May 20.
Last August, before the release of the white paper, the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology’s Digital Currency Initiative announced that they were partnering to study the implications of a CBDC. Calling their collaborative effort “Project Hamilton,” they describe it as a “multiyear research project to explore the CBDC design space and gain a hands-on understanding of a CBDC’s technical challenges and opportunities.” They issued a Phase I report this past February.
In the next episode of our Talk About Payments (TAP) webinar series on June 9, two senior leaders from the Boston Fed’s Project Hamilton team will provide a detailed overview and current status of the project.
The webinar will take place on June 9 from 1 to 2 p.m. (ET). To participate in the free webinar, you must register. Once you have registered, we will send you a confirmation email with the login information. To view previous episodes, go to the TAP webinar page.
Date: Thursday, June 9
Time: 1–2 p.m. (ET)
Press release courtesy of the Federal Reserve Bank of Atlanta