US Lawmakers Introduce ‘ECASH’ Bill in New Push to Create a Digital Dollar
A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.
The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.
This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.
Still the same messed up money… 