the us dollar could go digital Why the Fed Is Considering a Digital Dollar | WSJ

the us dollar could go digital Why the Fed Is Considering a Digital Dollar | WSJ
The Federal Reserve is trying to figure out how to keep cash relevant in a cashless world. It’s considering digitizing the U.S. dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses. Illustration: Jacob Reynolds/WSJ
US Exploring a Digital Dollar

Last year, China launched a digital yuan pilot program. The Chinese government-backed digital currency got a boost when the country’s biggest online retailer announced the first virtual platform to accept the Chinese digital currency.

China isn’t the only government exploring the possibility of digital money. Sweden has developed a digital currency of its own. The European Central Bank is pushing for a digital euro. And Russian central bank governor Elvira Nabiullina recently told CNBC that digital currency is “the future of our financial system.”

So, how long before a digital dollar comes to the United States? Well, it’s already in the pipeline.