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--- cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start [2022/04/27 16:55]
terrance [Discussion of Examples]
+++ cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start [2022/06/17 19:28] (current)
terrance
@@ Line 1: / Line 1: @@
 ====== Question: 19. Should a CBDC be designed to maximize ease of use and acceptance at the point of sale? If so, how? ======
-[[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: 19. Should a CBDC be designed to maximize ease of use and acceptance at the point of sale? If so, how?
+">Provide Feedback</a></b>
+</html>
+</WRAP>  |
 ===== Question =====
-[[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19| Return to Top]]
+[[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start| Return to Top]]
   - **Should a CBDC be designed to maximize ease of use and acceptance at the point of sale?**
@@ Line 9: / Line 16: @@
 ===== Answer =====
-[[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19| Return to Top]]
+[[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start| Return to Top]]
-By using a system designed roughly as outlined in section [[cbdc:private:cbdc_omg:04_doc:15_common:70_dualnets:start]], much of the current infrastructure would remain in place and the **ease of use and acceptance at the point of sale** would be very little different than the current system since the End User Front End would be done by existing Intermediaries or newly specialized U.S. CBDC Intermediaries.
+By using a system designed roughly as outlined in section [[cbdc:public:cbdc_omg:04_doc:15_common:70_dualnets:start]], much of the current infrastructure would remain in place and the **ease of use and acceptance at the point of sale** would be very little different than the current system since the End User Front End would be done by existing Intermediaries or newly specialized U.S. CBDC Intermediaries.
 Table {{ref>theoretComponents}} provides the system components of a very simplified, theoretic ACH / CBDC network. Figure {{ref>simpleCbdcFlow}} graphically shows a theoretical, very simplified, dual ACH-CBDC Network Concept.
@@ Line 17: / Line 24: @@
 <table theoretComponents>
 <caption>Theoretical components of a Dual ACH / CBDC System</caption>
+<WRAP>
   * Development of a U.S. CBDC is probably based on Stablecoin Model.
   * Use of an energy-efficient [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus Algorithm]]
   * Development of a **bridge** between the existing [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:ach | Automated Clearing House (ACH) Network]] and the new U.S. CBDC Network
   * Development of a new standardized [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:api | Application Programming Interface (API)]] to connect the outside world to the newly enhanced combined ACH Network and CBDC Network for the existing intermediaries to use for transfers
+</WRAP>
     : **Note:** The [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:api | API ]] could be in the form of [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:w:web_service| Web Services]], [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:r:rpc | Remote Procedure Calls (RPC)]], [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:c:corba | Common Object Request Broker Architecture (CORBA)]],  [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:d:dds | Data Distribution Service (DDS)]] or other interprocess communication mechanisms defined using [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.b_stds:tech:omg:idl&s[]=idl | ISO/OMG Interface Definition Language (IDL)]], [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:w:wsdl | standardized Web Services Interface Language (WSDL)]], etc.
 </table>
 <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>
 </figure>
@@ Line 31: / Line 40: @@
 ===== Examples =====
-[[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19| Return to Top]]
+[[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19: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 **ease of use and acceptance at the point of sale** are listed in Table {{ref>ezOfUseReq}}.
+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 **ease of use and acceptance at the point of sale** are listed in Table {{ref>ezOfUseReq}}.
 <table ezOfUseReq>
-<caption>Examples of **ease of use and acceptance at the point of sale** identified during the White Paper Analysis conducted by the OMG</caption>
+<caption>Examples of **ease of use and acceptance at the point of sale** identified during the White Paper Analysis conducted by the OMG's CBDC WG.</caption>
 |< 100% 20% ->|
 ^ Category  ^ Desirements  ^
@@ Line 47: / Line 56: @@
 ===== Discussion of Examples =====
-[[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19| Return to Top]]
+[[cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start| Return to Top]]
-Table {{ref>ezOfUse}} 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]] which apply to **ease of use and acceptance at the point of sale**.
+Table {{ref>ezOfUse}} 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]] which apply to **ease of use and acceptance at the point of sale**.
 <table ezOfUse>
@@ Line 56: / Line 65: @@
 ^ Desirement No.  ^ Desirement Text  ^ Comment  ^
 ^ B0003 ^ Complement, rather than replace, current forms of money and methods for providing financial services | <WRAP>
-The proposed Dual ACH/CBDC networks would do exactly that. The existing Intermediaries would be allowed to expand their services to include U.S. CBDC by basically making it as a consumer choice.
+The proposed Dual ACH/CBDC networks would do exactly that. The existing Intermediaries would be allowed to expand their services to include U.S. CBDC by basically making it a consumer choice.
 </WRAP>|
 ^ B0007 ^ Provide households and businesses a convenient and electronic form of central bank money with: <WRAP>
-    - safety
+    : 1. safety
-    - liquidity
+    : 2. liquidity
 </WRAP>| <WRAP>
 In all accounts, U.S. money could be kept as U.S. Dollars or as U.S. CBDC. Since the U.S. CBDC would probably be backed by a U.S. Dollar Stablecoin, there should be no advantage or disadvantage to either. The main difference is the End User's choice to use the real-time CBDC or the existing ACH Network. Note: There may be a cost associated with converting between the two currencies.
 </WRAP>|
 ^ B0009 ^ Provide faster and cheaper payments (including cross-border payments) | <WRAP>
-If the U.S. CBDC network is selected by the End User, the transactions will most likely be faster, but not necessarily cheaper. There is a cost associated with using the [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus facilities]] of the U.S. CBDC as well as the possibility of costs associated with converting U.S. Dollars to U.S. CBDC.
+If the U.S. CBDC network is selected by the End User, the transactions will most likely be faster but not necessarily cheaper. There is a cost associated with using the [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus facilities]] of the U.S. CBDC as well as the possibility of costs associated with converting U.S. Dollars to U.S. CBDC.
 </WRAP>|
 ^ B0011 ^ Make payments: <WRAP>
-   - faster
+   : 1. faster
-   - cheaper
+   : 2. cheaper
-   - more convenient
+   : 3. more convenient
-   - more accessible
+   : 4. more accessible
 </WRAP>| <WRAP>
 Using the Dual Network, the End User can decide how fast they want the payments to be made. The cost of using a U.S. CBDC is still unknown. There is a cost associated with using the [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus facilities]] of the U.S. CBDC as well as the possibility of costs associated with converting U.S. Dollars to U.S. CBDC.
-It is up to the free market and the entrepreneurs to make it more convenient and more accessible.
+It is up to the free market and the entrepreneurs to make it more convenient and accessible.
 </WRAP>|
 ^ B0013 ^ Provide immediate access to transferred funds| <WRAP>
 If an End User chooses to use the U.S. CBDC network, the funds will be available as fast as the U.S. CBDC infrastructure permits. Usually within minutes. See [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.k_consensus:start | Consensus Algorithms]] for more information.
 </WRAP>|
-^ R0007 ^ Risk CDBC is difficult to use without service providers | <WRAP>
+^ R0007 ^ Risk CBDC is difficult to use without service providers | <WRAP>
 At a minimum, the existing Intermediaries would be able to use most of their existing infrastructure to use the U.S. CBDC. In the Workflow for creating a payment transaction:
-  - Need to ask if it is going to use a CBDC transfer.
+  : 1. Need to ask if it is going to use a CBDC transfer.
-    - If yes, they need to make sure the End Users account has the correct about of CBDC Stablecoins
+   : a. If yes, they need to make sure the End Users account has the correct about of CBDC Stablecoins
-      - If not, they need to convert U.S. Dollars to U.S. CBDC Stablecoins
+    : i. If not, they need to convert U.S. Dollars to U.S. CBDC Stablecoins
-      - formulate a standardized U.S. CBDC transaction and all the required data
+    : ii. formulate a standardized U.S. CBDC transaction and all the required data
-    - If not, do ACH Network business as usual
+   : b. If not, do ACH Network business as usual
 </WRAP>|
+| **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefits| 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#risks| Risk Considerations ]] |||
+| **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] |||
 </table>

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