The Federal Reserve Bank of New York has published findings stemming from an experiment dubbed “Project Cedar,” a protocol that uses a wholesale digital dollar in order to improve financial transactions. Michelle Neal, head of the bank’s Markets Group remarked on Friday that the research “indicated that settlement could occur in fewer than 10 seconds on average and that horizontal scaling was possible.” Fed’s New York Branch Releases Digital Dollar Findings Associated With Project Cedar On Nov. 4, 2022, the Federal Reserve’s New York branch published a report ...
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