Coinbase Chief Wants Private Sector to Build US Digital Dollar

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Coinbase Chief Wants Private Sector to Build US Digital Dollar

by Richard M Adrian - 02:17 PM Nov 06, 2019

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Brian Brooks, Coinbase legal affairs chief holds that the US government; should take the lead in allowing the private sector to create a US digital dollar.

Brook was quoted in a Fortune piece requesting the government to create a digital dollar; or if it could allow the private sector to create one more effectively. According to Brooke, the answer to that question is as well the best way forward;

“The best path forward is one that harnesses our country’s remarkable capacity for innovation and also reflects government’s historical practice of setting broad guide rails for private innovation within the financial system. That means letting innovators invent, and letting government regulate. In short: the private sector should build the technology, and the public sector should set monetary policy.

US Digital Dollar will Build and Empower

Brooks notes that the United States government continues to take the lead in global innovation, however on part this leadership is provided by the private sector. The legal chief is therefore concerned that the government could stifle the cryptoverse; and the development of blockchain.

“The U.S. can take the lead without exerting unnecessary control over technology decisions that are providing increased access to our financial system. This can all be done while still empowering central banking authorities and building trust between individuals and institutions”.

US Government Should Wake Up

Another crypto leader echoed similar sentiments. Mike Wasyl, managing partner at DeerCreek-; said that the United States is stuck with regulatory issues but needs to wake up to China’s proactive innovation on a central bank digital currency. DeerCreek is a financial technology firm for corporate strategies across Asia Pacific.

"China is making these very large macro plays. They want to maintain control and be seen as leaders and so adopting blockchain and being public about it, as we saw recently, is going to stir a lot of interest."

#Altcoins #Bitcoin (BTC) #Crypto Exchange #Crypto News #Cryptocurrency #Cryptocurrency Market #Cryptocurrency News #US digital dollar #US regulations #USDT

About The Author

Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.