FedCoin is the cryptographic currency of the US government. EE. UU

The Federal Reserve should seriously consider issuing an encrypted government-sponsored currency, commonly called FedCoin.

Warsh is part of a group of investors in Basis, formerly Basecoin, which supports the development of an encrypted currency, algorithmized with central banks, which will guarantee a stable price of the currency.

 Cryptocurrency will save central banks in a crisis

Warsh believes that FedCoin will not replace cash, but this is a good way to carry out monetary policy in a time of crisis.

The crypto-government currency is preferable to banks, Warsh observed, compared to independent cryptocurrencies that are subject to fraud and investor losses.

Warsh also said that blocking technology will be useful to guarantee the transfer of trillions of dollars between banks.

Kevin Warsh said that if people believe that digital currencies in one form or another will work as money in the future, central banks should consider them as something more than an interesting novelty.