The US is in the early stages of developing a central bank digital currency (CBDC), but some experts are excited about the idea.
“For hundreds of years, governments have made money to help people buy and sell things . . . but technology is moving, and the governments have fallen behind,” says Tadge Dryja, a research scientist at the Massachusetts Institute of Technology’s Digital Currency Initiative, which is researching C.B.D.C.s with the Federal Reserve Bank of Boston. “This is like updating cash for the era of the internet.”