cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start
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cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start [2022/05/18 22:26] nick |
cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start [2022/06/17 18:33] (current) terrance |
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| | [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:start| Return to CBDC Benefits, Risks, and Policy Considerations ]] | <WRAP> | | [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:start| Return to CBDC Benefits, Risks, and Policy Considerations ]] | <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: |
| Question: 02. Could some or all of the potential benefits of a CBDC be better achieved in a different way? | Question: 02. Could some or all of the potential benefits of a CBDC be better achieved in a different way? | ||
| ">Provide Feedback</a></b> | ">Provide Feedback</a></b> | ||
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| [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start| Return to Top]] | ||
| - | Some of the potential benefits outlined in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] and summarized by the [[https://www.omg.org/ | Object Management Group's ]] [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] can definitely be addressed with an alternative model to the one assumed in the White Paper. | + | Some of the potential benefits outlined in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] and summarized by the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] can definitely be addressed with an alternative model to the one assumed in the White Paper. |
| The review in this example is not comprehensive but is meant as a demonstration of how an alternative approach might address some of the benefits, policy Considerations, risks, and design objects outlined in the White Paper. | The review in this example is not comprehensive but is meant as a demonstration of how an alternative approach might address some of the benefits, policy Considerations, risks, and design objects outlined in the White Paper. | ||
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| <table DigitalCurrencyExm> | <table DigitalCurrencyExm> | ||
| - | <caption>Example of mapping a subset of requirements identified in the White Paper Analysis conducted by the OMG.</caption> | + | <caption>Example of mapping a subset of requirements identified in the White Paper Analysis conducted by the OMG's CBDC WG.</caption> |
| ^ Statement No. ^ Statement ^ Comments ^ | ^ Statement No. ^ Statement ^ Comments ^ | ||
| ^ B0003, P0003^ Complement, rather than replace, current forms of money and methods for providing financial services | <WRAP> | ^ B0003, P0003^ Complement, rather than replace, current forms of money and methods for providing financial services | <WRAP> | ||
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| [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start| Return to Top]] | [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:q02:start| Return to Top]] | ||
| - | Table {{ref>DigitalCurrencyExm}} provides a comments column which covers much of the discussion associated with the set of individual requirements. However, the introduction of [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start| Digital Dollars]] introduces a lot of points for discussion. It is recommended that the requirements identified by the [[https://www.omg.org/ | Object Management Group's ]] [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] need to ultimately be part of a Trade Study for the various alternatives (i.e., Cryptocurrency, Stablecoine, Digital Money). The Trade Study should be based on Conceptual Models, Logical Models and Physical Modes. Where: | + | Table {{ref>DigitalCurrencyExm}} provides a comments column which covers much of the discussion associated with the set of individual requirements. However, the introduction of [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start| Digital Dollars]] introduces a lot of points for discussion. It is recommended that the requirements identified by the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] need to ultimately be part of a Trade Study for the various alternatives (i.e., Cryptocurrency, Stablecoine, Digital Money). The Trade Study should be based on Conceptual Models, Logical Models and Physical Modes. Where: |
| * **Conceptual Models** capture the concepts that need to be addressed by any CBDC | * **Conceptual Models** capture the concepts that need to be addressed by any CBDC | ||
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| * **Physical Models** represent the logical constructs in a particular technology (i.e., Postgres, Oracle, HTML5, CSS, XML, JSON, etc.) | * **Physical Models** represent the logical constructs in a particular technology (i.e., Postgres, Oracle, HTML5, CSS, XML, JSON, etc.) | ||
| - | Regardless of which model (Cryptocurrency, [[cbdc:public:cbdc_omg:04_doc:15_common:30_stablecoins:start| Stablecoin]], [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start| Digital Dollar]]) is used for the CBDC, the [[https://www.omg.org/ | Object Management Group ]] recommends that the Federal Reserve use a Model Based Systems Engineering (MBSE) and Unified Architecture Framework (UAF) approach for future CBDC efforts. The CBDC is a complex issue that, once released, could have a life expectancy of many, many years. Only through extensive Systems Analysis, Engineering, Design will CBDC have the stability it needs to instill confidence in the public (**''B0020''**). | + | Regardless of which model (Cryptocurrency, [[cbdc:public:cbdc_omg:04_doc:15_common:30_stablecoins:start| Stablecoin]], [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start| Digital Dollar]]) is used for the CBDC, the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG recommends that the Federal Reserve use a Model Based Systems Engineering (MBSE) and Unified Architecture Framework (UAF) approach for future CBDC efforts. The CBDC is a complex issue that, once released, could have a life expectancy of many, many years. Only through extensive Systems Analysis, Engineering, Design will CBDC have the stability it needs to instill confidence in the public (**''B0020''**). |
| - | Some of the potential requirements in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] as summarized by the [[https://www.omg.org/ | Object Management Group's ]] [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] reflect the need to instill public confidence (See Table {{ref>confidence}} | + | Some of the potential requirements in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] as summarized by the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG [[cbdc:public:cbdc_omg:04_doc:12_summary:start| White Paper Analysis]] reflect the need to instill public confidence (See Table {{ref>confidence}} |
cbdc/public/cbdc_omg/04_doc/20_comments/brp/q02/start.1652927187.txt.gz · Last modified: 2022/05/18 22:26 by nick
