Ex-CFTC Chair Christopher Giancarlo on Why He Launched Digital Dollar Project

Ex-CFTC Chair Christopher Giancarlo on Why He Launched Digital Dollar Project 1

In this video from WEF 2020, former Commodity Futures Trading Commission Chairman J. Christopher Giancarlo, also known as “Crypto Dad,” discusses his push to digitize the U.S. dollar and the future of global currencies.

“We believe that the dollar usage in the global economy is underserved by serving as a continual analog instrument in a digital world,” he said. “We’re going to think through how to create a digital dollar that serves well into this coming digital century.”

Ultimately, Giancarlo feels governmental currencies will come together with corporate cryptocurrencies and, presumably, open-source communities like bitcoin and ethereum. Government crypto, said Giancarlo, might try to intrude on privacy, something that blockchain can prevent.

“Let’s envision a world where you have a Chinese central bank currency, you have a commercial cryptocurrency like a Libra and you have a U.S. dollar digital currency,” he said. “In those three worlds, one government is going to want to know every transaction, and especially transactions to political opponents to freedom … and even whether you’re shopping with Target or whether you’re shopping with Nordstrom.

“We think in a digital dollar people could see their information being more secure, not less.”

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin35,692 0.26 % 8.97 % 17.23 %
Ethereum2,482.5 0.77 % 14.19 % 25.05 %
Tether1.000 0.55 % 0.00 % 0.04 %
Binance Coin353.57 0.93 % 18.21 % 27.85 %
USD Coin1.000 0.32 % 0.02 % 0.03 %
Cardano1.040 0.82 % 15.70 % 19.11 %
Solana101.78 1.08 % 18.54 % 30.44 %
XRP0.6074 0.37 % 12.81 % 21.53 %
Terra57.79 0.22 % 26.25 % 29.21 %
Polkadot17.71 0.44 % 21.64 % 36.18 %

bitcoin
Bitcoin (BTC) $ 35,746.00
ethereum
Ethereum (ETH) $ 2,495.06
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 356.00
usd-coin
USD Coin (USDC) $ 1.00
cardano
Cardano (ADA) $ 1.05
solana
Solana (SOL) $ 102.62
xrp
XRP (XRP) $ 0.609727
terra-luna
Terra (LUNA) $ 57.40
polkadot
Polkadot (DOT) $ 17.82