What is a “digital dollar”? How is it different from existing money that is kept in banks and spent using credit cards/wire transfers?

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I have been hearing a lot of buzz about the government introducing a “digital dollar”. But isn’t most money already digital? What would be the big difference in this system?

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It’s a dollar that is wholly digital, and can only go between digital sources. For example, “cash only” businesses will go away. Any business that is illegal may also not be allowed, such as purchasing drugs. If they can’t get a business account, they don’t get to make business transactions. They could still sell under their personal account directly linked to their name, and hope they don’t make enough to trigger an audit.

Take of that what you will.

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