Deloitte, a consultancy, has issued a report where it is contemplating a possibility of the US state-sponsored cryptocurrency.

According to the consultancy, such currency could help address successfully the goals that the Federal Reserve marked in 2015 as its priorities, namely speed, security, efficiency.

There is a comparison between the state-sponsored cryptocurrency and bitcoin. The state-sponsored cryptocurrency is not a new currency and not a global currency, but a different medium for a fiat currency.

There is a proposal to make it work via the traditional banking system.

The consumers, merchants, and government are the potential winners of the new system thanks to cost and fraud reduction. The financial institutions would be challenged by the newcomers and carry high adjustments costs. However, the cons look more like possibilities for the financial system as a whole.