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The Democratic Digital Dollar: A Digital Savings & Payments Platform for Fully Inclusive State, Local, and National Money & Banking Systems

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Author: Robert Hockett

Many national and subnational units of government see a need for more inclusive
money, payment, and retail banking systems for the capture, storage, and transfer of
spendable value among their constituents. Existing and still proliferating payments
platforms, most provided by for-profit private sector entities, exclude too many people, and
extract too much value in the form of needless transaction charges and other rents, to be
up to the task of efficiently affording this essential commercial and financial utility to the
full public on sensible terms. This Article sketches a smart-device-accessible platform—
the ‘Digital Dollar Platform Plan’—which, thanks to new payment technologies, can easily
be put in to place and administered by any unit or level of government with a view to
supplying this critical commercial and financial infrastructure to all of its constituents.

Hockett, Robert. The Democratic Digital Dollar: A Digital Savings & Payments Platform for Fully Inclusive State, Local, and National Money & Banking Systems, Harvard Business Law Review Volume 10 (February 18, 2020). Available at: https://www.hblr.org/wp-content/uploads/sites/18/2020/02/The-Democratic-Digital-Dollar_HBLR_FINAL.pdf