|We requested to join FedLab in its CBDC reserach|
The Transferable Digital Notes Project is researching a viable solution to the challenging problems associated with putting in circulation fiat currency in digital form by central banks. The project does not have any funding and it’s supported by a small group of voluntaries.
The Federal Reserve Bank of Boston recently announced a multiyear collaboration with the Digital Currency Initiative at the Massachusetts Institute of Technology to perform technical research related to a central bank digital currency. We consider that TDNSYS can bring a valuable contribution to this research.
Recently TDNSYS submitted a request to The Federal Reserve Board's Technology Lab (TechLab) to join the technical research related to a central bank digital currency.
TDNSYS offers a radically different approach for implementing what it is called Central Bank Digital Currency (CBDC). In the Unites Stated the currency is the US Dollar, a fiat currency. It is less likely that a new ‘Digital currency’ is needed. What is needed is a digital form of the UD Dollar, beside the paper notes, coins and fed reserve accounts. (Should be noticed that money creation through credit is already computerized and it is a total differ matter).
We hope that our request will be taken into consideration and TDNSYS will be able to work along all the other participants at solving this challenging endeavor.
For more information please contact George Dobrescu at email@example.com