Spotlight Growth
No Result
View All Result
Wednesday, July 6, 2022
  • Login
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Cryptocurrency

Digital U.S. Dollar Concept Gaining Traction in Congress

by admin
March 5, 2021
in Cryptocurrency, Politics
0
Digital U.S. Dollar Concept Gaining Traction in Congress

Digital versions of national currencies continue to gain traction, as governments realize the convenience that they bring to the table. While the United States lags behind in many aspects of the cryptocurrency industry, recent legislative efforts have included attempts to establish a “digital U.S. dollar.” Originally proposed as part of the first major Coronavirus stimulus package, the digital dollar showed up again in the most recent bill. The included intention shows that a digital dollar would serve to quickly and efficiently distribute stimulus funds to individuals.

Congress eventually cut the digital dollar provision from that first package. The new proposal mirrors the previous effort and seeks to introduce both a digital dollar and a federal wallet for use by every U.S. citizen. However, the digital dollar initiative remains a majority-progressive project. As such, it’s unlikely to make it through both houses of Congress unscathed. Despite this, the persistence of the effort demonstrates a fundamental shift in thinking.

Is a Digital U.S. Dollar Good for Bitcoin?

The majority of the cryptocurrency industry sees a digital dollar as a major boon for Bitcoin. In theory, a digital dollar would increase interest in non-traditional banking models and potentially drive further investment in cryptocurrency. On the surface, the proposal seems like a net positive for cryptocurrency as a whole.

Yet, there are several flags that suggest otherwise. For example, the proposed digital dollar would not use blockchain technology. Instead, it would run on the same legacy banking systems currently in place. While blockchain technology isn’t necessary for digital success, the proposed digital dollar would barely differ from current online banking options.

Digital Currencies across the Globe

The United States is not the first nation to propose a digital currency. Famously, Venezuela introduced the “Petro” in an attempt to raise cash during difficult times. The plan backfired as the Petro lost almost all value. The European Union began experimenting with decentralized, digital currency options recently. They’ve pledged to create such a system, if the private sector fails to do so.

In contrast, China’s digital currency development is well on its way. After years of development, the digital yuan entered a trial testing phase last week. While the digital yuan almost certainly comes with some centralized drawbacks by nature, it shows China’s willingness to think ahead. The future of currency is digital, one way or another, and first mover status is a strong advantage.

Article By: Adam Stone

Tags: Bitcoinblockchainblockchain technologyCongressCOVID19cryptoCryptocurrencycryptonewsdigital currenciesdigital currencydigital dollardigital USDdigital yuanemerging growthEthereumEuroEuropeHouse of RepresentativesinvestinginvestmentnewspetropoliticsSenateSpotlight Growthstimulustechtech newstradingUSD
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

November 22, 2021
Alfi NASDAQ ALF Ridesharing Tablet Rollout Spotlight Growth

Alfi, Inc. (NASDAQ: ALF) Climbs 51% After Entering Into Agreement with Miami-Based Fulfillment & Distribution Center For its Ridesharing Digital Tablet Rollout

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Waitr NASDAQ WRTH 7 Eleven Delivery Spotlight Growth

Waitr Holdings (NASDAQ: WTRH) Expands Delivery Reach with New National Collaboration with 7-Eleven

July 6, 2022
Resolute Paper Products NYSE RFP Paper Excellence Group Takeover Spotlight Growth

Resolute Forest Products (NYSE: RFP) Enters into Agreement to be Acquired by Paper Excellence Group for $2.7 Billion

July 6, 2022
Inspira Technologies NASDAQ IINN Hyla Blood Sensor Spotlight Growth

Inspira Technologies (NASDAQ: IINN) Unveils Non-Invasive Blood Sensor that Provides Real-Time Changes in Patients

July 6, 2022
5 Micro-Cap Stocks That Are the Best Performers Through the First Half of 2022 Spotlight Growth

5 Best Performing Micro-Cap Stocks Through the First Half of 2022

July 5, 2022

Recent News

Waitr NASDAQ WRTH 7 Eleven Delivery Spotlight Growth

Waitr Holdings (NASDAQ: WTRH) Expands Delivery Reach with New National Collaboration with 7-Eleven

July 6, 2022
Resolute Paper Products NYSE RFP Paper Excellence Group Takeover Spotlight Growth

Resolute Forest Products (NYSE: RFP) Enters into Agreement to be Acquired by Paper Excellence Group for $2.7 Billion

July 6, 2022

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us
Spotlight Growth

Copyright © 2021 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2021 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested