The Digital Dollar Continues to be Pushed by Former CFTC Chair
The former US Commodity and Futures Trading Commission (CFTC) Chairman continues to fight for the US Dollar to become a digital global force.
Chris Giancarlo, known in the crypto community as "Crypto Dad" was one of the few in the office to issue cryptocurrency services into the American Markets. Bitcoin and other crypto futures markets have been approved under his administration and continue to see growth, with companies like the Intercontinental Exchange (ICE; Bakkt) and The Chicago Mercantile Exchange (CME) all pushing for bitcoin settlements into USD.
According to Mr. Giancarlo, in his new role in New York-Based Law firm Willkie Farr & Gallagher, blockchain technology is the next necessary step to keep the USD relevant amidst China and cryptocurrency developments. In America, many states including The Republic Of Texas, use Silver and Gold-based commodities to both earn as salary and spend among themselves, showing that there is a demand for something better than what the current U.S.A Dollar provides.
Newly appointment CFTC chair, Health Tarbert believes that time and steady progress should be the key, stating that innovation is important, but understanding the best and worst before going all in, is where America can really benefit. Evaluating law and regulation is an area that must be carefully considered.
The rise of educated people in law and government continues to allow for blockchain to grow, but is it something that fits the needs of the average citizen? Or just the next trend that will never attain mass adoption?
Image via WSJ
