The Digital Currency working group will focus on how governments can provide payments using modern, digital technologies. The COVID-19 crisis has revealed that government disbursements, while mostly effective, rely on dated technology that leaves significant gaps and moves far too slow to effectively respond to the rapid market impacts. This group will convene to create a short paper that will be focused on offering considerations for policymakers as they assess the current response and look forward to future legislative and administrative actions.
This paper will provide first principles that they should consider, offer examples of private solutions that exist and work today, and provide a framework for the construction of modern, effective, and faster government disbursements to citizens and businesses.
The working group intends to create a paper of relevance to ALL governments with the first draft of private solutions that work today and an outline of contents for the balance of the paper by the end of April / beginning of May.