The Digital Dollar Project, which advocates a blockchain-backed digital dollar in the U.s., has announced the inaugural roster of its Advisory Board.

The new advisors joining the founders of the projection

The project is an initiative of several former heads of the Commodity Futures Trading Commission (CFTC) and Accenture. The new advisory board includes 22 members with broad backgrounds in finance and payment technologies. They include old CFTC Commissioner Sharon Bowen, PayPal policy exec Usman Ahmed and Georgetown fintech police force professor and occasional Cointelegraph contributor Chris Brummer.

The announcement for the new lath says the advisors aim to "help guide the framework for practical steps that could be taken to establish a U.S. Central Banking company Digital Currency (CBDC)."

The project'south directors include one-time CFTC Chairman J. Christopher Giancarlo and former Managing director of the Committee's fintech office, LabCFTC, Daniel Gorfine. Speaking with Cointelegraph, Giancarlo explained the goal of the board:

"Nosotros've brought together a broad cross-section of individuals — non institutions, but individuals —  with feel in monetary policy, central banking, commercial cyberbanking, KYC/anti-money laundering, privacy constabulary, constitutional law, economics, accounting, tax — all other disciplines that demand to be brought together to examine this and its implications not just for the US economy, but implications for the global economy, where the dollar remains the earth's primary reserve currency."

Question of digital dollar amid U.S. help?

The news comes amid some major back-and-forth for the crypto community, as various versions of the stimulus beak to fight the economic harm wrought by COVID-19 in the U.Southward. included provisions promoting a digital dollar and affiliate wallets.

"We did not take anything to do with what was in that House bill," Giancarlo told Cointelegraph, but said that legislators may have been inspired by the Project's language: "We've been using the phrase 'digital dollar' quite consistently to refer to a Us central bank digital currency."

Giancarlo and Gorfine first appear the Digital Dollar Project in January of this twelvemonth. The initiative built on an October Op-Ed from Giancarlo in which he advocated the need for a blockchain-backed digital dollar.