Royal Bank of Canada believes that the US Federal Reserve will not rush into the development and implementation of a digital currency.
The dollar-pegged token will be gradually integrated into the payment infrastructure. Bank analysts believe that the regulator will refuse to issue a digital dollar for retail or corporate transactions.
Most likely, CBDC will appear on the American market as a publicly available tool.
The Royal Bank of Canada report notes:
“We believe the Federal Reserve will focus on incremental technology advancement and will not take risks by rapidly transforming the payments infrastructure.”
The bank invites the Federal Reserve to address problems related to ensuring the security of transactions and user privacy.
The Federal Reserve is conducting research on CBDC. Then the regulator will launch pilot testing of the token and only after this the Federal Reserve will make a final decision on the launch of the digital dollar.
The US Congress supports the authorities' plans to create a national digital currency.
Senator Elizabeth Warren said on NBC that CBDC would be a good alternative to Bitcoin and other digital currencies that do not have issuers.
