Brainard made this comment as part of a speech given at a Stanford Graduate School of Business symposium. According to her, the Federal Reserve is currently doing some research focused on distributed ledger technologies. She suggested that the agency is looking at how this technology could be applied for the creation of digital currency, as well as a central bank digital currency (CBDC).
In December last year, Kryptomoney reported that the People’s Bank of China (PBoC) is ready to run a pilot test on its digital Yuan. Reports suggest the test will take place in Shenzhen and Suzhou cities, with just a few institutions.
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