MIT, Boston Fed give digital dollar CBDC a modest test run By Cointelegraph

The world not too long ago obtained a sneak peek at what a digital greenback, or not less than one part of a hypothetical United States central financial institution digital foreign money (CBDC), may seem like, courtesy of Undertaking Hamilton, a collaborative effort of the Federal Reserve Financial institution of Boston and the MIT Digital Forex Initiative. The outcomes of the venture’s first part had been initially anticipated final summer season however had been launched on Feb. 3. The venture, introduced in 2020, is called in honor of Alexander Hamilton, the primary U.S. Treasury secretary, and Margaret Hamilton, an MIT staffer who contributed to NASA’s Apollo program.

Researchers developed two open-source fashions of transaction processing software program, referred to as OpenCBDC, for the “technology-agnostic” venture. The researchers word within the venture’s white paper that “technical and coverage selections are extremely interdependent and that these selections are extra granular and with extra permutations than generally mentioned.” Solely one of many fashions used distributed ledger know-how, and it turned out to be the much less passable answer, with the know-how described as “not wanted.”