The US House of Representatives is considering sending direct support to US citizens.

The support is part of the stimulus package announced by the US government to counter the effects of the Corona virus on the national economy.

While the bill is still under discussion which includes the issuance of the digital dollar.

The bill states that the US government can provide up to $2,000 to the country’s most vulnerable citizens and $1,000 to minors.

To ensure citizens have access to money, the bill proposes creating a system of digital wallets that can receive digital dollars.

The traditional and crypto markets responded positively to the announcement and the US government stimulus package.

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However, the US government has been criticized for allocating $2.2 trillion in new government debt for this purpose, while the measure has yet to be approved by Congress.

eThaler project based on ethereum and digital US dollar issue:

The parliamentarians behind the proposal already have projects under way that could implement the digital dollar currency issuance.

according to “ForbesThe Hyperledger Consortium and the eThaler Project could be the perfect solution.

The eThaler project will allow the issuance of a digital central bank (CBDC) digital currency on the Ethereum blockchain.

The consulting firms Accenture, InfoSys and Itau Bank in Brazil are working on the project.

The pool is being developed based on Hyperledger Besu, an enterprise version of Ethereum developed by ConsenSys.

Commenting on the idea, Vipin Bharathan, President of Hyperledger Association, said:

This is an important step, and I would argue that crisis situations like this always produce new ideas, and acceptance of them, which will persist long after the coronavirus burns around the world.

eThaler has implemented a Token Classification Framework (TTF) that is compliant with the ERC-1155 token standard. Unlike the other Ethereum ERC-20 standard, ERC-1155 is a standard that supports multiple types of tokens.

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For example, a central bank could use it to exchange dollars or redeemable digital bonds.

In addition, the site reveals github The project is as follows:

The credit token will remove one of the major obstacles to any value transmission network, a prerequisite for frictionless digital capital markets.

eThaler, just like Bitcoin, can be divided into the decimals required by the issuing bank.

This feature will make it suitable for small transactions.

The eThaler is exchangeable in terms of design and will have the value of the underlying asset in this case we are talking about the US dollar.

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It can also be suspended or paused by de-decentralizing the project.

On the project and the idea of ​​issuing a digital dollar, Bharathan said:

It might not start with a bang with a trillion dollar purse.

But over time, it may be.

The information currently available is very limited.

In addition, it seems doubtful whether it is possible to achieve and launch a digital US dollar within a few days, so developments remain to be monitored.

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