A digital cash layer refers to a foundational technological framework designed to enable instant, peer-to-peer digital payments, often with features similar to physical cash. This layer aims to provide high transaction throughput, low fees, and enhanced privacy for everyday digital transactions. It forms a base for various digital payment applications.
Context
The concept of a digital cash layer is gaining prominence in discussions around central bank digital currencies (CBDCs) and advanced blockchain protocols. Proponents advocate for its potential to modernize payment systems, reduce reliance on traditional intermediaries, and promote financial inclusion. However, debates persist regarding privacy implications and the potential impact on commercial banking structures.
JPM is leveraging the Base L2 for JPMD, creating a compliant, capital-efficient digital cash layer to accelerate institutional on-chain settlement velocity.
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