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6.12 Defining the Appropriate Standards or Specifications
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The OMG members recommend the Federal Reserve engage in the development of formal, accredited Standard and Specifications in developing and perfecting a U.S. based CBDC. Although it is possible to use de facto standards, these are generally tied to implementations rather than to the concepts and agreements of how to work together. This can be a form of Vendor Lock-in.
The OMG members recommend the Non-Functional Requirements of Portability and specifically Replaceability
The OMG members recommend the Standards and Specifications be created within a Standards Developing Organization (SDO) or a Voluntary Standards Consensus Body (VSCB).
The OMG members also recommend the use of Open Source Software (OSS) to be used as a Reference Implementation(RI).
The OMG members also recommend the Reference Implementation(RI) be created using Research Development Test & Evaluation (RDT&E) process of Small Business Innovation Research (SBIR) and/or Small Business Technology Transfer (STTR) process.
THe following definitions are provided here as a convenience.
| Standard | A Standard is a set of technical definitions and guidelines. In essence, it is a how-to instructions for designers, manufacturers, and users. Standards promote safety, reliability, productivity, and efficiency in almost every industry that relies on engineering components or equipment. Standards can run from a few paragraphs to hundreds of pages and are written by experts with knowledge and expertise in a particular field who sit on many committees. |
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| Specification | A Specification is a document stating requirements. A specification can be related to activities (e.g. procedure document, process specification, and test specification), or products (e.g. product specification, performance specification, and drawing). |
