Boston Fed, MIT see promise in possible digital-dollar code

Researchers have developed a code base that could satisfy the transaction speed necessary for a US digital dollar, handling 1.7 million transactions per second. — Relaxnews

The work of creating a possible US digital dollar inched ahead with initial research by the Federal Reserve Bank of Boston into the code that eventually could support such a currency.

The Boston Fed, in collaboration with the Massachusetts Institute of Technology’s Digital Currency Initiative, released a 35-page white paper on the findings of its technological research, which focused on developing software to process transactions.