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Nathan Toman: An Official “North Dakota Coin” Could Help The State’s Struggling Ec

Rep. Nathan Toman believes that an official “North Dakota Coin” could potentially help the state’s struggling economy in the wake of COVID-19.

Toman said:

“That was my hope, but we’re a little bit late to the game on doing something like that.”

It has been reported by Inforum that Toman said he sees such an asset positioned as more of a store of value than a transactional currency. He additionally believes that it could function in tandem with loans and investing. 

A North Dakota representative describes a conceptual store of value $crypto asset, @benjaminpirus reports. — Cointelegraph (@Cointelegraph) August 7, 2020

However, regulatory authorities put up resistance against Toman’s North Dakota coin effort, although the representative retains a positive outlook for the future of the endeavor in light of the current economy and pandemic

Thus, the report said that while North Dakota may eventually issue its own blockchain-based asset, the US Federal Reserve currently looks toward releasing its FedNow digital money system. 

Source: Cointelegraph | Image: CSO



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