Cryptocurrency
Why Trump Should Unveil A U.S. Answer To Bitcoin To Rival China’s Digital Yuan
Forbes reports, “The U.S. has said it will do whatever it takes to keep up with China on technology—and with China poised to unveil its digital yuan project, the U.S. could benefit from a similar answer to bitcoin. “Last week, it was reported by newswire Reuters the Trump administration will today announce a huge bump in spending […]
Forbes reports, “The U.S. has said it will do whatever it takes to keep up with China on technology—and with China poised to unveil its digital yuan project, the U.S. could benefit from a similar answer to bitcoin.
“Last week, it was reported by newswire Reuters the Trump administration will today announce a huge bump in spending for artificial intelligence (AI) and quantum research, amongst other technologies in order to keep pace with China.
“White House adviser and U.S. chief technology officer Michael Kratsios told Reuters the budget will ‘ensure America continues to lead the world in critical technologies like AI and quantum. America’s economic strength and national security depend on it.’
“The budget is expected to earmark nearly $2 billion for AI research by 2022, up from $973 million today, as well as $860 million in “quantum information sciences” spending within the next two years, double quantum spending in 2020.
“The budget is also thought to include cash for the National Science Foundation, ‘for AI-related grants and interdisciplinary research institutes, rising to more than $850 million.’
“In China, the country’s central bank is working on a digital version of the yuan, and, though there is no fixed date for its launch, some have suggested it could be imminent. A digital yuan could help China’s currency internationalize and challenge the dominance of the U.S. dollar…”