The Digital Dollar Project Names 22 New Advisory Group Members
March 26 2020 - 8:59AM
Business Wire
Partnership between Accenture and the Digital
Dollar Foundation aims to promote establishment of a U.S. Central
Bank Digital Currency
The Digital Dollar Project today announced its first advisory
group members, who will help guide the framework for practical
steps that could be taken to establish a U.S. Central Bank Digital
Currency (CBDC).
A partnership between Accenture (NYSE: ACN) and the Digital
Dollar Foundation, the Digital Dollar Project was created to
encourage research and public discussion on the potential
advantages of a CBDC — or a “digital dollar.” The Project will
identify options for a CBDC solution to help enhance monetary
policy effectiveness and financial stability; provide needed
scalability, security and privacy in retail, wholesale and
international payments; and integrate with existing financial
infrastructures, including U.S. Federal Reserve-related
projects.
The Digital Dollar Project’s 22 new advisory group members — a
list of whom can be found at https://www.digitaldollarproject.org —
include prominent businesspeople, economists, former regulators,
technology luminaries and educators who represent a cross-section
of distinguished experts in the fields of banking, capital markets,
international standards, anti-money laundering, monetary policy,
national security, and privacy and property rights.
The Digital Dollar Project will explore design options and
approaches for a CBDC through a deliberative process, including
stakeholder meetings, roundtable discussions and open forums. The
Project is headed by J. Christopher (“Chris”) Giancarlo, former
chair of the Commodity Futures Trading Commission (CFTC); Charles
Giancarlo, an entrepreneur, investor and executive who is currently
CEO of Pure Storage; and Daniel Gorfine, founder and CEO of Gattaca
Horizons LLC, adjunct professor of Law at the Georgetown University
Law Center, and former chief innovation officer at CFTC.
“The insights and expertise of the new advisory group members
will be invaluable as we work together to help make the dollar a
more effective and smarter currency in an increasingly digital
global economy,” said Chris Giancarlo. “Welcoming these first
advisors and holding our first official meeting — held virtually —
were critical objectives for the project. We look forward to having
others join as significant contributors to our efforts.”
Accenture is the lead architect and technology innovation
partner of the not-for-profit Digital Dollar Foundation, which was
launched earlier this year.
“We believe that a Central Bank Digital Currency will be an
important building block for a more inclusive, efficient and
effective global financial system,” said David Treat, a senior
managing director at Accenture who leads its Blockchain practice
globally. “This impressive group of advisory members will help us
chart a course for the modernization of our financial systems.”
The Project’s next step will be to develop a white paper
proposing core elements and the value proposition of a digital
dollar, which the group plans to release in the next two
months.
About Digital Dollar Foundation
The Digital Dollar Foundation is a not-for-profit organization
created to support the Digital Dollar Project’s efforts to advance
exploration of a United States Central Bank Digital Currency in
order to advance the needs of global financial systems and
consumers. The Foundation is led by the Honorable J. Christopher
Giancarlo, Charles H. Giancarlo and Daniel Gorfine. J. Christopher
Giancarlo is Senior Counsel to the international law firm Willkie
Farr & Gallagher and the former Chairman of the U.S. Commodity
Futures Trading Commission (CFTC). Charles Giancarlo is the CEO of
Pure Storage (NYSE: PSTG), and formerly served in senior executive
roles at Cisco Systems (Nasdaq: CSCO) and Silver Lake Partners, the
private equity firm. Daniel Gorfine is founder and CEO of Gattaca
Horizons LLC, and previously served as the CFTC’s first Chief
Innovation Officer and Director of LabCFTC. FTI Consulting, a
global business advisory firm dedicated to helping organizations
manage change, mitigate risk and resolve disputes, is providing
strategic communication support for the Foundation and Project. For
more information on the Digital Dollar Project please visit:
DigitalDollarProject.org or contact:
info@DigitalDollarProject.org.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services in strategy and consulting,
interactive, technology and operations, with digital capabilities
across all of these services. We combine unmatched experience and
specialized capabilities across more than 40 industries — powered
by the world’s largest network of Advanced Technology and
Intelligent Operations centers. With 509,000 people serving clients
in more than 120 countries, Accenture brings continuous innovation
to help clients improve their performance and create lasting value
across their enterprises. Visit us at www.accenture.com.
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Alison Geib Accenture +1 703 947 4404
alison.geib@accenture.com
Denise Berard Accenture +1 617 488 3611
denise.berard@accenture.com
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