Centrally managed digital currencies are poised to help government agencies navigate budget constraints
At every level of government in the United States, there is a growing realization that continued debt-laden spending cannot go on forever. Yet cries for more funding come from every corner – education, infrastructure, first responders, pension funding. The budget of nearly every level of U.S. government is being stretched in historic ways.
The ordinary answers – cut services or raise taxes – have worn thin and seem no longer viable. In many cases the suggestion is to cut services AND raise taxes. And then there is the third option – taking on more debt.
Is there a solution? The short answer is “Yes”.
“Digital Currencies”, as the IDMC has defined the phrase, are still a new form of money. They use some of the same technical architecture (e.g. blockchain) used by cryptocurrencies but are focused on the everyday role of money in an economic system. Since they are centrally managed instead of distributed, their value can remain stable like a national currency. Digital currencies are the solution to government budget constraints.
Can digital currencies help government agencies?
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