The Future of the Digital Dollar in the United States

The Future of the Digital Dollar , in the United States.
The Future of the Digital Dollar , in the United States.
NPR reports that since its introduction
as the United States' national currency,
the dollar has experienced many evolutions.
But the newest proposed update
to the American dollar may be the
most radical one yet.
United States officials are reportedly considering a digital version of the dollar,
one more tailored toward today's economy.
In addition to minting coins and printing
paper currency, the United States could
begin issuing digital cash stored in the
"digital wallets" of smartphones.
Experts say the pursuit of digital
currency could result in the
elimination of transaction fees.
Each time a device interacts with
a bank, there are transaction fees.
According to NPR, in 2020, United States businesses shouldered more than
$110 billion worth of transaction fees.
One of the more obvious downsides to a digital dollar in the United States is the increased visibility of the government
into citizens' financial privacy.
There will be legitimate questions about how much the government knows about each individual, , Raghuram Rajan, professor of finance
at the University of Chicago Booth School of Business, via NPR.
... and also, how much it
can act to restrain
activities by individuals. , Raghuram Rajan, professor of finance
at the University of Chicago Booth School of Business, via NPR