The Future of the Digital Dollar , in the United States.<br />The Future of the Digital Dollar , in the United States.<br />NPR reports that since its introduction <br />as the United States' national currency, <br />the dollar has experienced many evolutions.<br />But the newest proposed update <br />to the American dollar may be the <br />most radical one yet.<br />United States officials are reportedly considering a digital version of the dollar, <br />one more tailored toward today's economy.<br />In addition to minting coins and printing <br />paper currency, the United States could <br />begin issuing digital cash stored in the <br />"digital wallets" of smartphones.<br />Experts say the pursuit of digital <br />currency could result in the <br />elimination of transaction fees.<br />Each time a device interacts with <br />a bank, there are transaction fees.<br />According to NPR, in 2020, United States businesses shouldered more than <br />$110 billion worth of transaction fees.<br />One of the more obvious downsides to a digital dollar in the United States is the increased visibility of the government <br />into citizens' financial privacy.<br />There will be legitimate questions about how much the government knows about each individual, , Raghuram Rajan, professor of finance <br />at the University of Chicago Booth School of Business, via NPR.<br />... and also, how much it <br />can act to restrain <br />activities by individuals. , Raghuram Rajan, professor of finance <br />at the University of Chicago Booth School of Business, via NPR
