Former CFTC Chairman Chris Giancarlo Continues Fight For Digital Dollar

Chris Giancarlo, the former CFTC Chairman aka “Crypto Dad,” believes that the current set of financial systems, more specifically the older systems associated with the pre-digital age, are hopelessly obsolete, and looks to fix them.

“During my five years at the commission we saw this sort of new wave of the digitization of our world that's taking place,” he said. “The first wave was the digitization of information, and that's created the Internet as we know it today. But we’re seeing what some people call the digitization of value, or the or the Internet of value,” said Giancarlo in an interview with CoinDesk.

Giancarlo has recently requested for a digital dollar to be created and has partnered with LabCFTC head Daniel Gorfine to experiment and eventually ship the framework for a digital version of the currency.

The former CFTC Chairman said, “I've been also thinking a lot about how so much of our physical infrastructure – our bridges, our tunnels, our airports – have been allowed to age and decay. They were state of the art in the fifties and sixties. They are well past their sell-by day today.” Giancarlo also stated, “So much of our financial infrastructure has also been allowed to age and decay and not been modernized.”

By Ramsey Baker

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