A research project undertaken by the Federal Reserve Bank of Boston and Massachusetts Institute of Technology to test the feasibility of a central bank digital currency (CBDC) for the U.S.
Launched in 2020, Project Hamilton was a proof-of-concept for a digital dollar card to serve as a universal debit card. Major goals were to process hundreds of thousands of transactions per second and complete each one in only a few seconds. See
CBDC.
No Longer
Dire warnings of government tracking and claims of America becoming a surveillance state were voluminous. However, after the project was completed and the results were made available, in January 2025, the Trump administration issued an executive order banning all work on an American CBDC. See
Trump tokens,
World Liberty Financial and
cryptocurrency.