Ex-CFTC chief’s digital dollar initiative adds 22 new advisors, will release white paper in the next two months

Originally reported by-The Block

"Crypto dad" Christopher Giancarlo's digital dollar initiative has named 22 new advisory members and is set to release a white paper in the next two months.

Giancarlo, the former chairman of the Commodity Futures Exchange Commission (CFTC), first created the Digital Dollar Foundation in Jan. 2010. The goal, according to a previous announcement, is to advocate for the creation of a "portable" digital dollar that can be sent "as easily as a text."

IT giant Accenture is acting as the project's lead architect and technology innovation partner, and business advisory firm FTI Consulting is providing the foundation with strategic communication support.

According to the latest announcement by the Digital Dollar Foundation, the non-profit now has a total of 25 advisory members, ranging from businesspeople and technology experts to educators and former regulators. The list includes Lawrence Rufrano, former regulator at the Federal Reserve Board; Ramon Martin Chavez, former Goldman Sachs executive; and Accenture managing director Valerie Abend.

The Foundation just held its first official stakeholder meeting following the appointment of the new advisors. Its next step is to release a white paper in the next two months to elaborate on "core elements and the value proposition of a digital dollar."

Notably, the U.S. Congress recently contemplated using a digital dollar to offer Americans stimulus payments. Although the provision was later stripped from the coronavirus economic stimulus bill, Giancarlo believes it was still an encouraging development. A separate bill advanced by the House Financial Services Committee retains the digital dollar language, and Ohio Sen. Sherrod Brown has put forward a digital dollar measure as a stand-alone bill in the U.S. Senate. 

"Recent Congressional exploration of a #DigitalDollar highlights importance of upgrading architecture of USD$ for a digital 21st Century," he said in a Thursday tweet.

  • Bitcoin
  • Ethereum
Scan to Donate Bitcoin to bc1qgpg2g2nq6wzfn0vywve8ydrzqxpqw3st4dmpn9

Donate Bitcoin to this ERC20 address

Scan the QR code or copy the address below into your wallet to send some Bitcoin. The address is ERC20, anything helps.

Scan to Donate Ethereum to 0xc77aff36f2475d945fA837507C9596ee3D39a0Ec

Donate Ethereum to this ERC20 address

Scan the QR code or copy the address below into your wallet to send some Ethereum. The address is ERC20, anything helps.