A U.S. dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

Sept 29 (Reuters) – The first phase of a multi-year research project the Boston Federal Reserve is doing with the Massachusetts Institute of Technology on the technology that could be used for a digital dollar is nearly done and could be released over the next month or so, a Boston Fed official said on Wednesday.

The initial findings from the Boston Fed research are “basically done” and will include open-sourced code that could serve as a potential model for a central bank digital currency, or CBDC, said Jim Cunha, a senior vice president with the Boston Fed, during a virtual panel focused on payments. It will also focus on the system’s ability to handle tens of thousands of transactions per second, he said.

“We think it’s really important that what we learn we share with the rest of the world and that others can…

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