Christopher Giancarlo Heads Digital Dollar Promotion Center

Former Chairman of the Commodity Futures Trading Commission (CFTC) Christopher Giancarlo announced the creation of the Digital Dollar Foundation.

Giancarlo said that a non-profit organization will study the possibilities and prospects of "converting" the US dollar into electronic currency on the blockchain, as well as explore the potential benefits of a "digitized" dollar.

The project is supported by Accenture, an international consulting company, with which the Central Bank of Sweden planned to collaborate in testing the digital Swedish krona.

The founders of the Digital Dollar Foundation also include former CFTC employee Daniel Gorfine and brother of Christopher Giancarlo, Charles Giancarlo, who previously worked for Cisco Systems IT.

It is reported that Giancarlo and Gorfin will provide start-up capital to the center, while Accenture will conduct research and development, as well as provide logistical support.

Giancarlo emphasized that this initiative is aimed at promoting US national interests, as the country should develop not only in terms of physical infrastructure, but also improve in the field of latest technologies.

Back in October, Giancarlo said that the US government should hurry up with the creation of a digital dollar, since a regular dollar may lose its international currency status if other countries start creating their own digital coins.

In addition, in March last year, Giancarlo expressed the opinion that blockchain could prevent the global financial crisis. 

SOURCE