Efforts to bring economic relief to households and businesses during the COVID-19 emergency have once again exposed the inadequacy of the U.S. payments system. Many people believe the solution is to have more widespread access to digital payments, yet there is no consensus on which of the available alternatives would best meet the goals of speed, cost‐effectiveness, inclusion, and continued innovation. Some academics and policymakers have proposed FedAccounts, a form of central bank digital currency, while other experts have advocated private‐sector digital currencies such as USD Coin (USDC), supplied by Circle and Coinbase, and Libra, plans for which were recently revamped.
This online panel of experts will debate the merits and potential downsides of each option, offering a glimpse into the likely evolution of U.S. retail payments in the coming decade. Please join us on May 8 for a fascinating discussion of one of the most important parts of the financial system.