The digital currency craze started with at least one anonymous Bitcoin founder and a community of futuristic, tech-savvy investors willing to take a bet on a new form of money. But over the past decade, the world of digital currency has coined a host of new types of online cash. In fact, Central Banks in more than 80 countries have, or are in the process of gearing their monetary systems in that direction. They consider them a means of modernizing and serving as a check against the growth of crypto. In China, an estimated 140 million people have already begun using the new digital yuan, which accounts for nearly $10 billion worth of transactions. In that context, does the world's reserve currency -- the U.S. dollar -- need its own version? Those who are argue “yes” say it is a fundamental step to remain competitive; to ensure the dollar remains in its preferred global standing. A digital dollar, they argue, would also create a new ease of exchange, reduce delays in processing times, and help the underbanked Americans into the digital economy. Those who argue “no” point to the risks of failure, hackings, and privacy breaches, which includes widespread government tracking of transactions, and could allow for unprecedented federal access to personal banks accounts. Against this backdrop, we ask: Does America Need a Digital Dollar?
Arguing "Yes" is Gillian Tett, Editor-at-large, Financial Times
Arguing "No" is Dante Disparte, Head of Global Policy at Circle
Emmy award-winning journalist John Donvan moderates
Learn more about your ad choices. Visit megaphone.fm/adchoices
Mock Trial: Is Trump Guilty in the January 6th Case?
David Brooks on the Art of Seeing and Hearing Others
Will the Future Be Abundant?
Should Congress Pass the Secure the Border Act?
Will AI Kill the Future of the Creative Arts?
How Would A No Labels Presidential Candidate Change the Outcome in 2024?
A primer for discussing Israel and Gaza and our divided American political landscape: John Donvan in discussion with author Mónica Guzmán
Do We Have Free Will?
Is Wokeness Killing Comedy?
Are DEI Mandates for University Faculties a Bad Idea?
Is Anti-Zionism the New Anti-Semitism?
Does Economic Growth Cost Too Much?
Should Artists Be Allowed to Borrow From Cultures Besides Their Own?
Should Ukraine Get Russia's Frozen Assets?
Is Modi's India Heading in the Right Direction?
Does America Need A Third Party?
Is Legalizing Marijuana a Mistake?
Is Objectivity Essential to Journalism?
Should we Erase Bad Memories?
Does Color Blindness Perpetuate Racism?
Create your
podcast in
minutes
It is Free
Navigating Life After 40
Teaching Learning Leading K-12
Regenerative Skills
The Jordan B. Peterson Podcast
The Mel Robbins Podcast