Boston Fed and Massachusetts Institute of Technology To Release Digital Dollar Prototypes In July

Researchers at the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) will unveil prototype central bank digital currency systems as early as July, according to a new report from Bloomberg.

The researchers, whose collaboration was announced in August 2020, have been “developing prototypes for a digital dollar platform,” according to Bloomberg.

James Cunha, who leads the project for the Boston Fed, said that the team will unveil at least two platforms capable of moving, storing, and settling digital dollar transactions. He declined to say whether any of them use blockchain technology.

Keep reading