6.11.3 Ontologies

Return to RDT&E	<b> <a href="mailto:cbdc-feedback@omg.org?Subject=OMG CBDC Response: 6.11.3 Ontologies ">Provide Feedback</a></b>

The OMG members recommend the Federal Reserve use Research Development Test & Evaluation (RDT&E) Funding in developing and perfecting glossaries, taxonomies, and ontologies used to represent the U.S. CBDC, the Intermediaries, and the needs of the Stakeholders. There already exists an OMG Ontology, Financial Industry Business Ontology (FIBO) that does not currently support Cryptocurrencies. The OMG members recommend a new Ontology be created for Cryptocurrencies and that it be complementary to FIBO.

As a separate conversation, Financial Instrument Global Identifier (FIGI) already does cover Cryptocurrencies but needs to be reviewed when a final U.S. CBDC is formally defined.