Emerging Technology, Government Finance

The Future of Money and Payments

September 16, 2022

The Future  of whitepaper
On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets (Executive Order).1 Section 4(b) of the Executive Order directs the Secretary of the Treasury, in consultation with the Secretary of State, the Attorney General, the Secretary of Commerce, the Secretary of Homeland Security, the Director of the Office of Management and Budget, the Director of National Intelligence, and the heads of other relevant agencies, to submit to the President a report on the future of money and payment systems. This report reviews the current U.S. system of money and payments, including developments in instant payments and stablecoins. It also describes design choices for a potential U.S. Central Bank Digital Currency (CBDC) in the context of public policy considerations related to building the future of money and payments, supporting U.S. global financial leadership, advancing financial inclusion and equity, and minimizing risks.

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The Department of Transportation provides citizens of Tennessee and travelers with one of the best transportation systems in the country. TDOT consistently wins awards for its projects, highway design and for its innovative approach to transportation. Since 1998, Tennessee was voted as having one of the top five highway systems in the country by a national trade magazine. TDOT is a multimodal agency with responsibilities in aviation, public transit, waterways and railroads. Our involvement ranges from airport improvements to funding transit buses to planning for river ports. The Department of Transportation has approximately 4,200 employees with four statewide region facilities in Jackson, Nashville, Chattanooga and Knoxville. TDOT headquarters is located in downtown Nashville.

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