cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start
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cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start [2022/05/07 14:04] nick |
cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start [2022/06/17 19:23] (current) terrance |
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| ====== Question: 16. Should the amount of CBDC held by a single end user be subject to quantity limits? ====== | ====== Question: 16. Should the amount of CBDC held by a single end user be subject to quantity limits? ====== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:start| Return to CBDC Benefits, Risks, and Policy Considerations ]] | + | |< 100% >| |
| + | | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:start| Return to Design Considerations ]] | <WRAP> | ||
| + | <html><b> | ||
| + | <a href="mailto:[email protected]?Subject=OMG's CBDC WG Response: | ||
| + | Question: 16. Should the amount of CBDC held by a single end user be subject to quantity limits? | ||
| + | ">Provide Feedback</a></b> | ||
| + | </html> | ||
| + | </WRAP> | | ||
| ===== Question ===== | ===== Question ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| - | **Should the amount of CBDC held by a single end user be subject to quantity limits?** | + | **Should the amount of CBDC held by a single end-user be subject to quantity limits?** |
| ===== Answer ===== | ===== Answer ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| - | The answer depends on the architecture, design and implementation. (See: [[cbdc:private:cbdc_omg:04_doc:15_common:start]]). | + | The answer depends on the architecture, design and implementation. (See: [[cbdc:public:cbdc_omg:04_doc:15_common:start]]). |
| - If it is a replacement for cash: **NO** | - If it is a replacement for cash: **NO** | ||
| - | - If it is a replacement for a bank accounts or equivalent (i.e, savings, checking, investment, direct pay, credit, debit cards, etc. ): **YES** | + | - If it is a replacement for a bank account or equivalent (i.e, savings, checking, investment, direct pay, credit, debit cards, etc. ): **YES** |
| - | : **Note:** The answer is almost identical to [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:20_comments:dsn:q15#answer | Question: 15. Should a CBDC pay interest? If so, why and how? If not, why not? ]] | + | : **Note:** The answer is almost identical to [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q15:start | Question: 15. Should a CBDC pay interest? If so, why and how? If not, why not? ]] |
| ==== Overview ==== | ==== Overview ==== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| - | Before an answer can be provided about **CBDC quantity limits** for end users, it is essential to clearly state the purpose and goals of the CBDC. The answer to [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q15#answer| Question: 15. Should a CBDC pay interest? If so, why and how? If not, why not? ]] Sets the stage for this question, too. | + | Before an answer can be provided about **CBDC quantity limits** for end-users, it is essential to clearly state the purpose and goals of the CBDC. The answer to [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q15:start#answer| Question: 15. Should a CBDC pay interest? If so, why and how? If not, why not? ]] Sets the stage for this question, too. |
| Basically, it depends on which model is used for the CBDC: | Basically, it depends on which model is used for the CBDC: | ||
| - | * **[[cbdc:private:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start]]** - is a model representing the CBDC using cash (i.e., coins, \$1, \$2, \$5, \$10, \$20, \$50 and \$100 bills)) as the basis of the CBDC | + | * **[[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start]]** - is a model representing the CBDC using cash (i.e., coins, \$1, \$2, \$5, \$10, \$20, \$50 and \$100 bills)) as the basis of the CBDC |
| - | * **[[cbdc:private:cbdc_omg:04_doc:15_common:08_currency_models:15_accounts:start]]** - is a model that represents the CBDC in using digital accounts (i.e, Savings, Checking, Investment, Direct Pay, Credit Cards, Debit Cards, etc.) | + | * **[[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:15_accounts:start]]** - is a model that represents the CBDC in using digital accounts (i.e, Savings, Checking, Investment, Direct Pay, Credit Cards, Debit Cards, etc.) |
| ==== Example ==== | ==== Example ==== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| - | There is only one requirement in the [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start&do=edit | White Paper]] as identified by the identified by the [[https://www.omg.org/ | Object Management Group's ]] report called [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start | White Paper Analysis]]: | + | There is only one requirement in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | White Paper]] as identified by the identified by the [[https://www.omg.org/ | Object Management Group's ]] CBDC WG report called [[cbdc:public:cbdc_omg:04_doc:12_summary:start | White Paper Analysis]]: |
| <table> | <table> | ||
| - | <caption>Requirements identified in [[https://www.omgwiki.org/CBDC/doku.php?id=cbdc:private:cbdc_omg:15_summary:start | White Paper Analysis]] related to limiting CBDC quantity of CBDC for an End User.</caption> | + | <caption>Requirements identified in [[cbdc:public:cbdc_omg:04_doc:12_summary:start | White Paper Analysis]] related to limiting CBDC quantity of CBDC for an End User.</caption> |
| ^ Statement No. ^ Page No. ^ Statement | | ^ Statement No. ^ Page No. ^ Statement | | ||
| ^ D0003 ^ 18 | Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | | ^ D0003 ^ 18 | Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | | ||
| Line 39: | Line 46: | ||
| ==== Discussion of Example ==== | ==== Discussion of Example ==== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| === Digital Cash Model === | === Digital Cash Model === | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| The Digital Cash Model | The Digital Cash Model | ||
| Line 52: | Line 59: | ||
| ^ Requirement ^ Statement ^ Comment ^ | ^ Requirement ^ Statement ^ Comment ^ | ||
| ^ D0003 ^ Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | Digital Cash should be considered similarly as physical cash. It is impractical to have large amounts of physical cash. For security and safety, rarely does an End User hoard large amounts of physical cash. Using large amounts of cash to make purchases require time to count and validate the cash, and the same limits should be the same for Digital Cash. | | ^ D0003 ^ Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | Digital Cash should be considered similarly as physical cash. It is impractical to have large amounts of physical cash. For security and safety, rarely does an End User hoard large amounts of physical cash. Using large amounts of cash to make purchases require time to count and validate the cash, and the same limits should be the same for Digital Cash. | | ||
| + | | **''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]] ||| | ||
| + | | **''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_considerations| Design Considerations]] ||| | ||
| </table> | </table> | ||
| === Digital Account Model === | === Digital Account Model === | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
| <table accountModel> | <table accountModel> | ||
| Line 61: | Line 72: | ||
| ^ Requirement ^ Statement ^ Comment ^ | ^ Requirement ^ Statement ^ Comment ^ | ||
| ^ D0003 ^ Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | Digital Accounts should be considered similar to current intermediary accounts (i.e., checking, savings, certificate of deposit, money market, etc.) held by End Users. | | ^ D0003 ^ Design should allow a limit on the amount of CBDC an end user could accumulate over short periods | Digital Accounts should be considered similar to current intermediary accounts (i.e., checking, savings, certificate of deposit, money market, etc.) held by End Users. | | ||
| + | | **''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]] ||| | ||
| + | | **''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_considerations| Design Considerations]] ||| | ||
| </table> | </table> | ||
| === Stablecoins === | === Stablecoins === | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q16| Return to Top]] | + | [[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q16:start| Return to Top]] |
cbdc/public/cbdc_omg/04_doc/20_comments/dsn/q16/start.1651946677.txt.gz · Last modified: 2022/05/07 14:04 by nick
