'Atomic Settlement' — New York Fed Completes First Phase of Digital Dollar Experiment Called 'Project Cedar'
The Project Cedar phase I prototype is a “permissioned blockchain network” that utilizes Bitcoin’s Unspent Transaction Output transaction model, and the software is developed in the programming language Rust.sharing his view Waller stressed at the event that he was not a fan of the Fed issuing a CBDC. “It’s just a checking account at the Fed. I’m not a big fan of it, but I’m open to having someone convince me that this is something that’s really valuable,” Waller detailed.called the “No Digital Dollar Act.” Lankford’s bill is aimed at prohibiting the U.S.
“Project Cedar Phase I revealed promising applications of blockchain technology in modernizing critical payments infrastructure, and our inaugural experiment provides a strategic launch pad for further research and development regarding the future of money and payments from the U.S. perspective,” the director noted.
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