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According to the father of the JOBS Act, the digital US dollar is inevitable, nobody wants the Chinese currency

June 13, 2020

David Weild IV, known as the father of the JOBS Act, believes that The issue of the digital dollar is imminent and that the US government you have to hurry up with it.

In addition to receiving cross-party support for one of the most important laws of the Obama era, Wield was also Vice President of NASDAQ and currently operates his own decentralized investment bank that helps cryptocurrency and blockchain companies raise capital.

China is unpredictable

Weild does not believe that the digital yuan is generating much demand outside of China due to the restrictive nature of its political system. He said that too USA You shouldn’t hesitate to preserve the global supremacy of your currency by offering it in digital form.::

“I think the United States should do it. And I think the United States should do it sooner rather than later. But I think so too Most of the world is not so interested in a Chinese digital currency simply because it is not a free country. It is unpredictable. And there are many Chinese people who would like to leave China because of the arbitrariness that the government sometimes has. “

People will pay with cryptocurrency

According to the father of the JOBS Act, the digital US dollar is inevitable, nobody wants the Chinese currencyAccording to the father of the JOBS Act, the digital US dollar is inevitable, nobody wants the Chinese currency

At the same time, he believes that there will be a demand for the digital currency since the US dollar has always been a “quality-seeking” currency: In times of economic turmoil, international investors have historically sought refuge in the US dollar. The digital currency could also lower transaction costs and provide additional convenience::

“You will see how people choose credit cards, people will start paying for things in cryptocurrency. Why not have the opportunity to go to your local bank and pay something with a digital currency and reduce it. ” Transaction costs? I think it is inevitable that the federal government will issue a stable coin supported by US dollars“”

However, This is unlikely to happen in the near futureAccording to Weild, who notes that the Capitol is currently concerned about the November presidential election.

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