OMG Central Bank Digital Currency (OMG-CBDC) Working Group (WG) Wiki

This page is read only. You can view the source, but not change it. Ask your administrator if you think this is wrong.
====== 8. Risk of competing Currency Models for the CBDC ======
|< 100% >|
| [[cbdc:public:cbdc_omg:04_doc:20_comments:brp:q11:start| Return to Question 11]]  |  <WRAP>
<html><b>
<a href="mailto:cbdc-feedback@omg.org?Subject=OMG's CBDC WG Response: 
11.8. Risk of competing Currency Models for the CBDC
">Provide Feedback</a></b>
</html>
</WRAP>  |

There are three categories of [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:start| Currency Models]] used within the [[ | White Paper]] and identified in the [[https://www.omg.org/ | Object Management Group's ]] - CBDC WG [[cbdc:public:cbdc_omg:04_doc:12_summary:start | White Paper Analysis]]

There is little to no explanation of why there are three different models used and no real explanation of when each is appropriate. Without clear guidance, this will continue to plague the U.S. CBDC effort.   

Some of the "desirements" point to a [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:10_cash:start| Digitial Cash Model]] (see Table {{ref>AccountTypeReqiurements}}) and some point to a [[cbdc:public:cbdc_omg:04_doc:15_common:08_currency_models:15_accounts:start| Digital Account Model]] (see Table {{ref>AccountReqiurements}}). There also seems to be some confusion about what and how Stablecoins fit into the CBDC. Stablecoins are a variation of the Digital Account Model that use a backing of the U.S. CBDC "coins" by the U.S. Dollar (see Table {{ref>StablecoinReqiurements}}).

It is not impossible for the U.S. CBDC to use some combination of all three of these, BUT a clear vision needs to be developed of how the three models for a U.S. CBDC can coexist or that only one model be selected. Without this, the U.S. CBDC effort will flounder and waste time, money, and effort in the different models working against each other.

<table AccountTypeReqiurements>
<caption>Mapping a subset of Digital Cash Model requirements identified within the White Paper Analysis conducted by the OMG's CBDC WG.</caption>
|< 100% 20% ->|
^ Category  ^ Desirements  ^
^ Benefits                    | B0003, B0004, B0007, B0009, B0013, B0018, B0020, B0022-1, B0022-2, B0022-3, B0024, B0028, B0029, B0034, B0036, B0040, B0042
^ Policies and Considerations | P0004, P0027, P0029 |
^ Risks                       | R0013 |
^ Design                      | D0001, D0006, D0007, D0009 |
</table>
  : **Note:** **''B''** = Benefit, **''P''** = Policy, **''R''** = Requirement, **''D''** = Design.


<table AccountReqiurements>
<caption>Example of mapping a subset of "desirements" identified during the White Paper Analysis conducted by the OMG's CBDC WG.</caption>
^ Topic         ^ Desirements  ^
^ Digital Account Model | <WRAP>
  : B: B0005, B0010, B0022-4, B0038, B0047, B0048, B0049, B0051, B0054
  : P: P0002, P0012, P0013, P0017, P0018, P0019, P0020, P0021, P0023, P0024, P0025, P0017, P0028, P0030
  : R: R0002, R0009, R0012, R0015, R0020, R0023
  : D: D0001, D0002, D0003, D0005, D0008, D0010, D0012, D0013, 
</WRAP>|
</table>


<table StablecoinReqiurements>
<caption>Example of mapping a subset of requirements identified during the White Paper Analysis conducted by the OMG's CBDC WG.</caption>
|< 100% 20% ->|
^ Area                ^ Desirements  ^
^ Benefits                   | B0016, B0017, B0021 |
^ Policy and Considerations  | P0008, P0015, P0016 |
^ Risks                      | R0010, R0022 |
</table>

/**=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
/* To add a discussion page to this page, comment out the line that says 
  ~~DISCUSSION: off~~
*/
~~DISCUSSION:on|Outstanding Issues~~
~~DISCUSSION:off~~
OMG Central Bank Digital Currency (OMG-CBDC) Working Group (WG) Wiki

User Tools

Site Tools

Page Tools
