Breitbart President Joe Biden plans to sign an executive order on Wednesday to study the concept of a “digital dollar” currency to compete with Bitcoin.
“We’re placing the highest urgency on the effort to assess the potential benefits and the risks of a digital dollar on payment systems, on financial stability, on national security, on the implications for human rights, and financial inclusion,” a senior administration official told reporters in a briefing call on Tuesday.
A digital dollar would be easier for the federal government of the United States to control than cash but make it more susceptible to inflation and government controls than open-source currencies like Bitcoin.
Bitcoin is trusted by users for not being susceptible to government control, allowing it to exist without government interference in changing the supply or seizing or freezing assets…
