The introduction: As the cryptocurrency market continues to expand and new players enter the field, the concept of a “digital dollar” has been gaining traction. While many investors and traders have been excited about the potential for crypto to disrupt traditional finance, the emergence of a digital dollar could very well change the game. In this article, we’ll explore what a digital dollar is, how it could affect the cryptocurrency market, and which cryptocurrencies may be most vulnerable to disruption.
– The introduction of a digital dollar could bring increased regulation and stability to the cryptocurrency market, which has been plagued by volatility and uncertainty.
– Some experts predict that a digital dollar could ultimately replace cryptocurrencies like Ripple (XRP) and Algorand, which are currently used for cross-border payments.
– The ISO 20022 messaging standard, which the digital dollar is built on, could make it easier and more efficient for financial institutions to process payments and transactions, further enhancing its appeal.
The digital dollar is coming and these are the cryptos you need to watch now the New York fed is starting a 12-week cbdc pilot program major institutions including MasterCard City HSBC and Wells Fargo will together create an interoperable Network to process and settle transactions using cbdc’s sounds
A lot like xrp you guessed right this pilot will be built on a payments blockchain called settle which heavily borrows the interoperable and programmable Ledger concepts of xrp it’s also fully compliant with ISO 2022 the Modern Standard for global payment networks the only difference is acetyl is a permissioned network that the banks
Can control so while banks are not yet issuing cbdc’s on public blockchain networks it does pave the way for ISO 20022 cryptos namely they are Quant xrp algorand hedera h-bar Stellar xlm Iota and xdc where we see a digital Dollar on these public blockchains in the future
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