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The Digital Dollar Project Launches Sandbox Program to Explore CBDC Solutions in the U.S.

Original Release | Digital Dollar Project | Aug 31, 2022

digital dollar project launches cbdc sandbox - The Digital Dollar Project Launches Sandbox Program to Explore CBDC Solutions in the U.S.WASHINGTON, Aug. 31, 2022 /PRNewswire/ -- The Digital Dollar Project (DDP) announced today the launch of its Technical Sandbox Program to jumpstart further exploration of technical implementations of a U.S. central bank digital currency (CBDC). The program is slated to begin in early October with the inaugural cohort focused on cross-border payments.

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  • The program will serve as a collaborative space for the DDP participants and financial service providers, offering a neutral environment for the evaluation of technological, business, and policy approaches to CBDCs. Program participants will examine real-world technology, explore potential implications to business strategies and operations, and experiment to uncover possible use-case specific solutions.
  • Each cohort of the DDP Technical Sandbox Program will consist of two phases: an education phase and a pilot phase.
    • Education phase - develop a business and functional understanding of the technology and evaluate the differences in possible design choices.
    • Pilot phase identify and test specific CBDC use-case hypotheses with the aim of gathering data on business-level impacts.
    • The results gathered will be broadly shared and used to inform both private and public sector stakeholders on how advancing technical solutions can unlock business value in a transformative way.
  • For more information on The Digital Dollar Project, please visit https://digitaldollarproject.org/.

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Jennifer Lassiter, executive director of The Digital Dollar Project:

The launch of our Technical Sandbox Program marks the next step in our effort to convene the private and public sector in exploration of a central bank digital currency in the U.S.  We understand how important it is to include a diverse set of views and expertise as we look to answer key questions about how the technology could work, the problems we hope to solve, and the ultimate business and individual outcomes we want to achieve. The marriage of these sectors in our collaboration is essential and will lay the foundation for robust pilots that improve the outcomes and usability of CBDCs.

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NCFA Jan 2018 resize - The Digital Dollar Project Launches Sandbox Program to Explore CBDC Solutions in the U.S.The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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