(Rejected 2) Former CFTC Chairman Opines that the U.S Dollar Should be Digitised

Former CFTC Chairman and founder of ‘’Digital Dollar Foundation’’ Chris Chairman states that the current ecosystem should be modernized according to today’s world requirements.

In an interview at the World Economic Forum, Crypto Dad shared his opinions about the current market status and the future of cryptocurrencies as well as the other interesting things to look out for within the space. He mentioned that in order to modernize the world with blockchain technology, we need a truly digital and tokenized infrastructure behind them. He also states that because of lack of visibility, we faced the 2008 global financial crisis. With the truly digitized dollar, we can detect such problems and it’ll contribute to increase power of transparency within the financial sector.

In response to a question during the interview about transparency, he said that every exchange on small participants has instantaneous transparency but for the larger ones, it can be delayed. In the 1980s London Stock Exchange tried to make it happen but the market went on against delayed time for larger transactions so it’s cancelled. He said:

‘’Transparency is not absolute, it is a quality  to be calibrated and is based on the nature of activities, like a spectrum.’’

Nowadays, American dollar is placed at the center of the global financial ecosystem. When asked what he thought would be changed with the advent of the "Digital Dollar" in the future. ‘’Crypto Dad’’ replied with an example from history about European settlement into North America. He talked about the technical superiority of Spanish dollar during the colonization times of America and stated that against currencies like British Pound, French Franc; Spanish dollar has the ability to be fractionalized. This makes the currency more effective. And as of today, we can create a good effect on the world's economy if we digitise the dollar. This makes a value proposition on the global world also.