Aarti Dhapte is a senior analyst at the analysis company Market Research Future. She explained the challenges to overcome to make success of the digital dollar.
She said: “There may be drawbacks to a CBDC, notwithstanding the possibility that it might offer consumers and companies a secure, digital payment alternative as the global payment system develops.
“The US Federal Reserve highlighted maintaining financial stability and ensuring that the digital dollar will ‘complement conventional means of payment’ as two challenges. The central bank must also address significant policy concerns before enacting a CBDC, including guaranteeing that it protects Americans’ privacy and that the government keeps its authority to combat unlawful money.”
