Christopher Giancarlo, former chairman of the US Commodity Futures Commission (CFTC), and Daniel Gorfine, who was the chief innovation officer of the CFTC, today jointly issued a paper in the Wall Street Journal calling for the creation of a digital currency version of the US dollar. According to Giancarlo, the digital dollar will be based on a blockchain, approved by the government, created and maintained by independent NGOs, and operated by banks and other trusted payment institutions.