A brand new invoice would launch a large-scale check of digital {dollars}

Graphics by Michele Doying / The Verge

2A US lawmaker has proposed a large-scale trial of government-backed digital money. The Digital Foreign money and Safe {Hardware} (ECASH) Act, launched by Rep. Stephen Lynch (D-MA), would direct the Secretary of the Treasury to publicly check an “digital model” of the US greenback. Whereas the invoice’s odds of passing possible stay low, it demonstrates governments’ growing curiosity in launching options to cryptocurrency.

The ECASH Act would require the Secretary of the Treasury to determine a program referred to as the Digital Foreign money Innovation Program (ECIP). ECIP would oversee a sequence of pilot packages for what the invoice dubs “e-cash”: Treasury Division-issued authorized tender that can be utilized with out personal intermediaries like banks…

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