US Digital Dollar: Privacy and Accessibility for Everyone
This act introduces a digital version of the US dollar, called e-cash, designed to function like physical cash, ensuring privacy and anonymity in transactions. It aims to be directly accessible to citizens, without intermediaries, and accepted by the government and businesses. The goal is to simplify payments and increase access to financial services, especially for underserved populations.
Key points
Introduction of e-cash: a digital US currency designed to be as private and anonymous as physical cash.
Direct public access: e-cash will be directly owned, held, and used by the general public, without requiring bank accounts or intermediaries.
Offline transactions: Ability to conduct instant, peer-to-peer transactions without internet access, using secure hardware devices.
Privacy protection: Prohibition on collecting, monitoring, or retaining e-cash transaction data by the government or businesses.
E-cash acceptance: The federal government must accept e-cash for payments (taxes, fees), and businesses accepting physical currency must also accept e-cash.
Pilot program: A testing program will be established to evaluate e-cash functionality before its widespread deployment.
Expired
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