cbdc:public:cbdc_omg:04_doc:04_intro:start
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cbdc:public:cbdc_omg:04_doc:04_intro:start [2022/05/16 18:24] nick |
cbdc:public:cbdc_omg:04_doc:04_intro:start [2022/06/17 17:32] (current) terrance |
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| ====== 1.0 Introduction ====== | ====== 1.0 Introduction ====== | ||
| - | [[cbdc:public:cbdc_omg:start| OMG Responses to Federal Reserve Discussion Paper]] | + | [[cbdc:public:cbdc_omg:start| OMG's CBDC WG Responses to Federal Reserve Discussion Paper]] |
| A brief introduction to the problem space, The Federal Reserve and the **White Paper** and the Object Management Group. | A brief introduction to the problem space, The Federal Reserve and the **White Paper** and the Object Management Group. | ||
| Line 8: | Line 8: | ||
| | [[cbdc:public:cbdc_omg:04_doc:start| Return to the Main Document]] | <WRAP> | | [[cbdc:public:cbdc_omg:04_doc:start| Return to the Main Document]] | <WRAP> | ||
| <html><b> | <html><b> | ||
| - | <a href="mailto:cbdc-feedback@mog.org?Subject=OMG CBDC Response: | + | <a href="mailto:cbdc-feedback@omg.org?Subject=OMG's CBDC WG Response: |
| 1.0 Introduction | 1.0 Introduction | ||
| - | &Body=The name space is | + | |
| - | cbdc:public:cbdc_omg:04_doc:04_intro:start | + | |
| ">Provide Feedback</a></b> | ">Provide Feedback</a></b> | ||
| </html> | </html> | ||
| - | </WRAP>| | + | </WRAP> | |
| ==== Overview ==== | ==== Overview ==== | ||
| [[cbdc:public:cbdc_omg:04_doc:04_intro:start| Return to the Top]] | [[cbdc:public:cbdc_omg:04_doc:04_intro:start| Return to the Top]] | ||
| - | The U.S. [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:f:federal_reserve | Federal Reserve (The Fed)]] published a {{ :cbdc:private:cbdc_omg:04_doc:08_method:money-and-payments-20220120.pdf | White Paper}} on [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]](( | + | The U.S. [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:f:federal_reserve | Federal Reserve (The Fed)]] published a {{ cbdc:04_doc:08_method:money-and-payments-20220120.pdf | White Paper}} on [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]](( |
| Board of Governors, | Board of Governors, | ||
| The Federal Reserve System, | The Federal Reserve System, | ||
| Line 165: | Line 164: | ||
| [[cbdc:public:cbdc_omg:04_doc:04_intro:start#about_the_object_management_group_omg| Return to About the Object Management Group (OMG)]] | [[cbdc:public:cbdc_omg:04_doc:04_intro:start#about_the_object_management_group_omg| Return to About the Object Management Group (OMG)]] | ||
| - | The OMG has reached out to its members to solicit an overall OMG response to the White Paper. Two groups within the OMG are providing extensive information in response to The Fed's request for [[cbdc:public:cbdc_omg:04_doc:04_intro:start#public_outreach| Public Outreach]]. | + | The OMG's CBDC WG reached out to its members to solicit an overall OMG's CBDC WG response to the White Paper. Two other groups within the OMG are interested in providing extensive information in response to The Fed's request for [[cbdc:public:cbdc_omg:04_doc:04_intro:start#public_outreach| Public Outreach]]. |
| Table {{ref>omgGroups}} provides a list of OMG groups that would have interest in the U.S. Based CBDC. | Table {{ref>omgGroups}} provides a list of OMG groups that would have interest in the U.S. Based CBDC. | ||
| Line 215: | Line 214: | ||
| [[cbdc:public:cbdc_omg:04_doc:04_intro:start| Return to the Top]] | [[cbdc:public:cbdc_omg:04_doc:04_intro:start| Return to the Top]] | ||
| - | The members of the [[https://www.omg.org/ | Object Management Group (OMG)]] have produced a single response to the Federal Reserves White Paper "[[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]]"(( | + | The members of the [[https://www.omg.org/ | Object Management Group's (OMG)]] CBDC WG have produced a single response to the Federal Reserves White Paper "[[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]]"(( |
| Board of Governors, | Board of Governors, | ||
| The Federal Reserve System, | The Federal Reserve System, | ||
| Line 221: | Line 220: | ||
| Accessed: 5 May 2022, | Accessed: 5 May 2022, | ||
| [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf]] | [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf]] | ||
| - | )). The White Paper was divided into two main sections: Discussion of a Central Bank Digital Currency (CBDC), and specific questions about the potential of a U.S. CBDC. The questions were further categorized into two main areas: CBDC Benefits, Risks, and Policy Considerations; and CBDC Design Considerations. The OMG response was written as a series of small sections using a WIKI and then printed as a PDF for submission back to the Federal Reserve. After the submission to the Federal Reserve, the contents of the WIKI are publicly available on the Internet. In order to relate the two sections, the OMG first [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:12_summary:start | analyzed the Discussion portion of the White Paper for "Desirements"]] (the white paper was not written as a requirements document, therefore the use of the term "Desirements"(( | + | )). The White Paper was divided into two main sections: Discussion of a Central Bank Digital Currency (CBDC), and specific questions about the potential of a U.S. CBDC. The questions were further categorized into two main areas: CBDC Benefits, Risks, and Policy Considerations; and CBDC Design Considerations. The OMG's CBDC WG response was written as a series of small sections using a Wiki and then printed as a PDF for submission back to the Federal Reserve. After the submission to the Federal Reserve, the contents of the Wiki are publicly available on the Internet. In order to relate the two sections, the OMG's CBDC WG first [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:12_summary:start | analyzed the Discussion portion of the White Paper for "Desirements"]] (the white paper was not written as a requirements document, therefore the use of the term "Desirements"(( |
| **Desirement** is a blended word combining the word **Desire** and **Requirement**. **Desirement** is something that is desired, but not absolutely required and is often used to caption the capabilities of a product or system before it has reached the formal requirements phase. | **Desirement** is a blended word combining the word **Desire** and **Requirement**. **Desirement** is something that is desired, but not absolutely required and is often used to caption the capabilities of a product or system before it has reached the formal requirements phase. | ||
| Source: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:d:desirement | Desirement]] | Source: [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:d:desirement | Desirement]] | ||
| ))). Each of the "Desirements" was classified as being a: | ))). Each of the "Desirements" was classified as being a: | ||
| - | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:12_summary:start#benefits| Benefit Considerations]], | + | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:12_summary:start#benefit_considerations| Benefit Considerations]], |
| - | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]], | + | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]], |
| - | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:12_summary:start#risks| Risk Considerations]], | + | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:12_summary:start#risk_considerations| Risk Considerations]], |
| - | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] | + | * [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:12_summary:start#design_considerations| Design Considerations]] |
| - | Each Desirement was numbered, referenced to the original page number in the White Paper, and listed in appropriate tables as a quick reference. Finally, each of the 22 questions was answered using the "Desirements" as context back to the discussion portion of the White Paper. As the answers to the questions were formulated, some [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:15_common:start | Common Elements]] were identified and made into independent subsections for reuse in the formulation of the answers to multiple questions. | + | Each Desirement was numbered, referenced to the original page number in the White Paper, and listed in appropriate tables as a quick reference. Finally, each of the 22 questions was answered using the "Desirements" as context back to the discussion portion of the White Paper. As the answers to the questions were formulated, some [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:public:cbdc_omg:04_doc:15_common:start | Common Elements]] were identified and made into independent subsections for reuse in the formulation of the answers to multiple questions. |
cbdc/public/cbdc_omg/04_doc/04_intro/start.1652739873.txt.gz · Last modified: 2022/05/16 18:24 by nick
