cbdc:public:cbdc_omg:04_doc:90_recommend:93_recomend:60_test
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cbdc:public:cbdc_omg:04_doc:90_recommend:93_recomend:60_test [2022/05/19 19:02] nick |
cbdc:public:cbdc_omg:04_doc:90_recommend:93_recomend:60_test [2022/05/19 19:08] (current) nick |
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| In order to successfully operate the U.S. CBDC based on Cryptocurrencies, even if they are [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:stablecoin | Stablecoins]], it is important to determine if Gas is necessary and if so how much it will cost and who will pick up the cost of processing. Based on the example provided in the DIDO-RA on Gas costs on PoW Ethereum, the cost is about is approximately 40 Million to 400 Million times more expensive than using a centralized server-based solution such as [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:aws | Amazon Web Services (AWS)]]. | In order to successfully operate the U.S. CBDC based on Cryptocurrencies, even if they are [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:s:stablecoin | Stablecoins]], it is important to determine if Gas is necessary and if so how much it will cost and who will pick up the cost of processing. Based on the example provided in the DIDO-RA on Gas costs on PoW Ethereum, the cost is about is approximately 40 Million to 400 Million times more expensive than using a centralized server-based solution such as [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:xapend:xapend.a_glossary:a:aws | Amazon Web Services (AWS)]]. | ||
| - | There are some high profile CBDCs that are underway, ad these need to be analyzed for applicability to a U.S. CBDC. | + | There are some high profile CBDCs (see Table {{ref>otherCBDC}} ) that are underway, ad these need to be analyzed for applicability to a U.S. CBDC and understanding how these other CBDCs use Gas if at all. |
| + | <table otherCBDC> | ||
| + | <caption>high profile CBDCs and CBDC Efforts.(( | ||
| + | Ian Smith, | ||
| + | __Central Bank Digital Currencies: Which countries are using, launching or piloting CBDCs?__, | ||
| + | Euronews, | ||
| + | 8 March 2022, | ||
| + | Accessed: 19 May 2022, | ||
| + | [[https://www.euronews.com/next/2022/03/09/cbdcs-these-are-the-countries-are-using-launching-or-piloting-their-own-digital-currencies]] | ||
| + | ))</caption> | ||
| + | |< 100% 15% 10% >| | ||
| + | ^ Country/Region ^ Currency Name ^ Description | | ||
| ^ Bahamas ^ Sand Dollar | <WRAP> | ^ Bahamas ^ Sand Dollar | <WRAP> | ||
| The Sand Dollar was issued by the Central Bank of the Bahamas in October 2020. It was the first nationwide CBDC in the world. | The Sand Dollar was issued by the Central Bank of the Bahamas in October 2020. It was the first nationwide CBDC in the world. | ||
| Line 93: | Line 104: | ||
| The ECB will continue work to develop its digital euro in the meantime. | The ECB will continue work to develop its digital euro in the meantime. | ||
| </WRAP>| | </WRAP>| | ||
| + | </table> | ||
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cbdc/public/cbdc_omg/04_doc/90_recommend/93_recomend/60_test.1653001375.txt.gz · Last modified: 2022/05/19 19:02 by nick
