cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start
Differences
This shows you the differences between two versions of the page.
| Both sides previous revision Previous revision Next revision | Previous revision | ||
|
cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start [2022/05/17 21:01] nick |
cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start [2022/06/17 18:20] (current) terrance |
||
|---|---|---|---|
| Line 3: | Line 3: | ||
| | [[cbdc:public:cbdc_omg:04_doc:15_common:start| Return to Common Elements]] | <WRAP> | | [[cbdc:public:cbdc_omg:04_doc:15_common:start| Return to Common Elements]] | <WRAP> | ||
| <html><b> | <html><b> | ||
| - | <a href="mailto:[email protected]?Subject=OMG CBDC Response: | + | <a href="mailto:[email protected]?Subject=OMG's CBDC WG Response: |
| 4.7 Dual Payment Networks | 4.7 Dual Payment Networks | ||
| Line 22: | Line 22: | ||
| : **Note:** The ACH has embarked on its own support for real-time transactions with [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:r:rtp | Real-Time Payments (RTP) Network]]. This should not be confused with the Stablecoin or other Crypto solutions. | : **Note:** The ACH has embarked on its own support for real-time transactions with [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:r:rtp | Real-Time Payments (RTP) Network]]. This should not be confused with the Stablecoin or other Crypto solutions. | ||
| - | Both networks would rely on the existing intermediary financial institutions to continue to do what they already do in terms of [[cbdc:public:cbdc_omg:04_doc:15_common:45_privacy:start| Privacy]], [[cbdc:public:cbdc_omg:04_doc:15_common:48_natsec:start| National Security]], and [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:04_doc:15_common:50_international:start | International Security]] BUT with the addition of the ability to use a real-time U.S. CBDC transfer mechanism instead of only the existing [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:ach | Automated Clearing House (ACH) Network]]. This allows the existing mechanisms that are part of the existing intermediaries structure to remain in place for Privacy and Security. This of course assumes the existing mechanism on Privacy and Security is acceptable. | + | Both networks would rely on the existing intermediary financial institutions to continue to do what they already do in terms of [[cbdc:public:cbdc_omg:04_doc:15_common:45_privacy:start| Privacy]], [[cbdc:public:cbdc_omg:04_doc:15_common:48_natsec:start| National Security]], and [[cbdc:public:cbdc_omg:04_doc:15_common:50_international:start | International Security]] BUT with the addition of the ability to use a real-time U.S. CBDC transfer mechanism instead of only the existing [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:ach | Automated Clearing House (ACH) Network]]. This allows the existing mechanisms that are part of the existing intermediaries structure to remain in place for Privacy and Security. This of course assumes the existing mechanism on Privacy and Security is acceptable. |
| However, it would also be possible for new financial intermediaries to startup but they would only be allowed to use the U.S. CBDC payment network. These new financial intermediaries would **NOT** be released from following the existing Laws and Regulations of the traditional financial intermediaries. In other words, they would have to ensure the End User's privacy (both ends of the Payment Transactions. They would also have conform to all the [[cbdc:public:cbdc_omg:04_doc:15_common:48_natsec:start| National Security Laws and Regulations]]. If either End User in the Payment Transaction is not in the U.S., they would have to abide by all the [[cbdc:public:cbdc_omg:04_doc:15_common:50_international:start| International Laws and Regulations]]. This would mean these new Intermediaries would be subject to oversight and auditing. | However, it would also be possible for new financial intermediaries to startup but they would only be allowed to use the U.S. CBDC payment network. These new financial intermediaries would **NOT** be released from following the existing Laws and Regulations of the traditional financial intermediaries. In other words, they would have to ensure the End User's privacy (both ends of the Payment Transactions. They would also have conform to all the [[cbdc:public:cbdc_omg:04_doc:15_common:48_natsec:start| National Security Laws and Regulations]]. If either End User in the Payment Transaction is not in the U.S., they would have to abide by all the [[cbdc:public:cbdc_omg:04_doc:15_common:50_international:start| International Laws and Regulations]]. This would mean these new Intermediaries would be subject to oversight and auditing. | ||
| Line 45: | Line 45: | ||
| <figure simpleCbdcFlow> | <figure simpleCbdcFlow> | ||
| - | {{ :cbdc:private:cbdc_omg:04_doc:15_common:70_dualnets:screen_shot_2022-04-20_at_2.53.28_pm.png?700 |}} | + | {{ cbdc:04_doc:15_common:70_dualnets:screen_shot_2022-04-20_at_2.53.28_pm.png?700 |}} |
| <caption>Theoretical Very Simplified Dual ACH-CBDC Network Concept.</caption> | <caption>Theoretical Very Simplified Dual ACH-CBDC Network Concept.</caption> | ||
| </figure> | </figure> | ||
| Line 115: | Line 115: | ||
| <figure newOnlyPaymentNet> | <figure newOnlyPaymentNet> | ||
| - | {{ :cbdc:private:cbdc_omg:04_doc:15_common:70_dualnets:screen_shot_2022-04-20_at_10.32.48_am.png?700 |}} | + | {{ cbdc:04_doc:15_common:70_dualnets:screen_shot_2022-04-20_at_10.32.48_am.png?700 |}} |
| <caption>Theoretical Very Simplified single CBDC Network Concept.</caption> | <caption>Theoretical Very Simplified single CBDC Network Concept.</caption> | ||
| </figure> | </figure> | ||
| Line 122: | Line 122: | ||
| [[cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start| Return to Top]] | ||
| - | The "desirements" specified in [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start&do=edit | White Paper]] and identified by the [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start | OMG's White Paper Analysis]] as **Privacy Issues** are listed in Table {{ref>privacyReq}}. | + | The "desirements" specified in [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] and identified by the [[cbdc:public:cbdc_omg:04_doc:12_summary:start | OMG's CBDC WG White Paper Analysis]] as **Privacy Issues** are listed in Table {{ref>privacyReq}}. |
| <table privacyReq> | <table privacyReq> | ||
| - | <caption>Examples of **Privacy Desirements** identified during the White Paper Analysis conducted by the OMG</caption> | + | <caption>Examples of **Privacy Desirements** identified during the White Paper Analysis conducted by the OMG's CBDC WG</caption> |
| |< 100% 20% ->| | |< 100% 20% ->| | ||
| ^ Category ^ Desirements ^ | ^ Category ^ Desirements ^ | ||
| Line 137: | Line 137: | ||
| [[cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start| Return to Top]] | ||
| - | Table {{ref>privacyReqDiscussion}} provides discussion points for each of the "desirements" identified by the [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start | OMG's White Paper Analysis]]. | + | Table {{ref>privacyReqDiscussion}} provides discussion points for each of the "desirements" identified by the [[cbdc:public:cbdc_omg:04_doc:12_summary:start | OMG's CBDC WG White Paper Analysis]]. |
| <table privacyReqDiscussion> | <table privacyReqDiscussion> | ||
| Line 313: | Line 313: | ||
| The Dual ACH/CBDC Networks would require the new infrastructure for the [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:api | Application Programmer Interface (API)]], the bridges, and the building out of a Distributed Network of Nodes to handle the CBDC transactions and [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus]]. The network of nodes might have any number of node types. Figure {{ref>typesOfNodes}} describes the taxonomy of DIDO Node Types. See [[ https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:1.2_views:3_taxonomic:3_node_tax:start | OMG DID-RA Node Taxonomy]] for a discussion on the different kinds of nodes. | The Dual ACH/CBDC Networks would require the new infrastructure for the [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:api | Application Programmer Interface (API)]], the bridges, and the building out of a Distributed Network of Nodes to handle the CBDC transactions and [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus]]. The network of nodes might have any number of node types. Figure {{ref>typesOfNodes}} describes the taxonomy of DIDO Node Types. See [[ https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:1.2_views:3_taxonomic:3_node_tax:start | OMG DID-RA Node Taxonomy]] for a discussion on the different kinds of nodes. | ||
| </WRAP>| | </WRAP>| | ||
| - | | **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefits| Benefit Considerations ]] ||| | + | | **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefit_considerations| Benefit Considerations ]] ||| |
| | **''P''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]] ||| | | **''P''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#policy_considerations| Policy Considerations]] ||| | ||
| - | | **''R''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#risks| Risk Considerations ]] ||| | + | | **''R''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#risk_considerations| Risk Considerations ]] ||| |
| - | | **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] ||| | + | | **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design_considerations | Design Considerations]] ||| |
| </table> | </table> | ||
| <figure typesOfNodes> | <figure typesOfNodes> | ||
| - | {{ :cbdc:private:cbdc_omg:04_doc:15_common:70_dualnets:node_taxonomy.png?500 |}} | + | {{ cbdc:04_doc:15_common:70_dualnets:node_taxonomy.png?500 |}} |
| <caption> DIDO Node Taxonomy: Node Types </caption> | <caption> DIDO Node Taxonomy: Node Types </caption> | ||
| </figure> | </figure> | ||
cbdc/public/cbdc_omg/04_doc/15_common/70_dualnets/start.1652835706.txt.gz · Last modified: 2022/05/17 21:01 by nick
