April 15, 2020
Former CFTC Chairman Giancarlo is the founder and director of The Digital Dollar Project, a multi-stakeholder initiative to advance exploration of a United States Central Bank Digital Currency (CBDC).
Senior counsel Chris Giancarlo, who founded The Digital Dollar Project in January 2020, was recently mentioned in Fortune and Law360 in connection with recent legislative calls for digitization of currency in the US amid the coronavirus crisis, and the potential impact of a digital dollar on the US economy.
In an April 7 Fortune commentary piece discussing efforts by China and the US in developing digital currency, Giancarlo was noted as saying that ‘Washington can harness the Constitution’s Fourth Amendment privacy guarantees to competitively position a digital dollar as superior to a digital renminbi, since many fear the latter becoming an instrument of state surveillance.’ To read the article, click here.
Additionally, he told Law360 in March that while a full-blown CBDC will need "thoughtful deliberation" and multiple iterations to get right, the COVID-19 crisis highlights a compelling case for a digitized dollar. To read the article, click here.
The Digital Dollar Project is a multi-stakeholder initiative to advance exploration of a United States Central Bank Digital Currency (CBDC) and develop a framework for potential, practical steps that can be taken to establish a dollar CBDC. In addition to its directors, it is served by an Advisory Group which includes economists, business leaders, technologists, lawyers, academics, consumer advocacy and human rights experts. Willkie partner Elizabeth Gray currently serves as a member of the Advisory Group.
