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Possible government-backed cryptocurrency to appear in the US

Tuesday 24 February 2015 10:53 CET | News

Economists have started considering an alternative federally backed cryptocurrency fixed to the USD, dubbed Fedcoin.

The key difference between Fedcoin and cryptocurrencies like Bitcoin is that it would have a fixed exchange rate with the USD.

Essentially, Fedcoin would be just a digital denomination of the USD but with features of Bitcoin: peer-to-peer transactions to anyone in the world with the appropriate wallet software and access to the internet.

Ecuador has become the first country to launch a digital currency fixed to the USD and the Philippines are said to be considering a similar move.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, US, websites, digital currencies
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3