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cbdc:public:cbdc_omg:04_doc:20_comments:dsn:q19:start [2022/05/16 18:11] nick ↷ Page moved from cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19:start to cbdc:cbdc_omg:04_doc:20_comments:dsn:q19:start |
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| ====== Question: 19. Should a CBDC be designed to maximize ease of use and acceptance at the point of sale? If so, how? ====== | ====== 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 ===== | ===== Question ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19:start| 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?** | - **Should a CBDC be designed to maximize ease of use and acceptance at the point of sale?** | ||
| Line 9: | Line 16: | ||
| ===== Answer ===== | ===== Answer ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19:start| 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. | 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 27: | Line 34: | ||
| <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 33: | Line 40: | ||
| ===== Examples ===== | ===== Examples ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19:start| 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> | <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% ->| | |< 100% 20% ->| | ||
| ^ Category ^ Desirements ^ | ^ Category ^ Desirements ^ | ||
| Line 49: | Line 56: | ||
| ===== Discussion of Examples ===== | ===== Discussion of Examples ===== | ||
| - | [[cbdc:private:cbdc_omg:04_doc:20_comments:dsn:q19:start| 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> | <table ezOfUse> | ||
| Line 58: | Line 65: | ||
| ^ Desirement No. ^ Desirement Text ^ Comment ^ | ^ Desirement No. ^ Desirement Text ^ Comment ^ | ||
| ^ B0003 ^ Complement, rather than replace, current forms of money and methods for providing financial services | <WRAP> | ^ 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>| | </WRAP>| | ||
| ^ B0007 ^ Provide households and businesses a convenient and electronic form of central bank money with: <WRAP> | ^ B0007 ^ Provide households and businesses a convenient and electronic form of central bank money with: <WRAP> | ||
| Line 67: | Line 74: | ||
| </WRAP>| | </WRAP>| | ||
| ^ B0009 ^ Provide faster and cheaper payments (including cross-border payments) | <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>| | </WRAP>| | ||
| ^ B0011 ^ Make payments: <WRAP> | ^ B0011 ^ Make payments: <WRAP> | ||
| Line 77: | Line 84: | ||
| 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. | 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>| | </WRAP>| | ||
| ^ B0013 ^ Provide immediate access to transferred funds| <WRAP> | ^ B0013 ^ Provide immediate access to transferred funds| <WRAP> | ||
| Line 90: | Line 97: | ||
| : b. If not, do ACH Network business as usual | : b. If not, do ACH Network business as usual | ||
| </WRAP>| | </WRAP>| | ||
| - | | **''B''** = [[cbdc:private:cbdc_omg:04_doc:12_summary:start#benefits| Benefit Considerations ]] ||| | + | | **''B''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#benefits| Benefit Considerations ]] ||| |
| - | | **''P''** = [[cbdc:private: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:private:cbdc_omg:04_doc:12_summary:start#risks| Risk Considerations ]] ||| | + | | **''R''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#risks| Risk Considerations ]] ||| |
| - | | **''D''** = [[cbdc:private:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] ||| | + | | **''D''** = [[cbdc:public:cbdc_omg:04_doc:12_summary:start#design| Design Considerations]] ||| |
| </table> | </table> | ||
cbdc/public/cbdc_omg/04_doc/20_comments/dsn/q19/start.1652739073.txt.gz · Last modified: 2022/05/16 18:11 by nick
