6.11 Perform Research Development Test & Evaluation (RDT&E)

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Overview

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There are a couple of ways that the OMG members recommend pursuing a U.S. CBDC Research Development Test & Evaluation (RDT&E) effort.

Either the Federal Reserve directly funds the RDT&E effort Partner with a U.S. Federal Department with an existing Small Business Innovation Research (SBIR) / Small Business Technology Transfer (STTR) process in place (see Table ) to conduct the research.Note: Under the SBIR/STTR processes, there can be multiple award teams working to solve the same problem at the same time. The solutions proposed could be merged together later. This gives some competition and helps avoid group think on the best solution.

List of U.S. Federal Eleven Federal Agencies participating in the SBIR program1) The Department of Interior, Small Business Innovation Research Programs (SBIR), Accessed: 12 May 2022, https://www.doi.gov/pmb/osdbu/small-business-innovation-research-programs-sbir 1. Small Business Administration2. Department of Agriculture3. Department of CommerceNational Institute of Standards and Technology (NIST) National Oceanic and Atmospheric Administration (NOAA)4. Department of Defense‡5. Department of Education6. Department of Energy‡7. Department of Health and Human Services‡8. Department of Homeland Security9. Department of Transportation10. Environmental Protection Agency11. National Aeronautics and Space Administration‡12. National Science Foundation‡‡ - participate in the STTR Program

Possible SBIR/STTR Topics

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The following subsections are provided by the OMG members on some possible RDT&E topics and some discussion the Federal Reserve can pursue with a partnering Federal Agency (see

6.11.1 Consensus Algorithms

6.11.2 Artificial Intelligence (AI)

6.11.3 Ontologies

6.11.4 Smart Contracts

6.11.5 Complex Data Models

6.11.6 Understanding Gas Implications

6.11.7 Simulation, Training and Testing Environment

6.11.8 Build Reference Implementation (RI)