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5.1 Benefits, Risks, and Policy Considerations
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cbdc:public:cbdc_omg:04_doc:20_comments:brp:start
5.1 Benefits, Risks, and Policy Considerations
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Question: 01. What additional potential benefits, policy considerations, or risks of a CBDC may exist that have not been raised in this paper?
sub-Q1: Benefits
sub-Q2: Policies
sub-Q3: Risks
Question: 02. Could some or all of the potential benefits of a CBDC be better achieved in a different way?
Question: 03. Could a CBDC affect financial inclusion? Would the net effect be positive or negative for inclusion?
Question: 04. How might a U.S. CBDC affect the Federal Reserve’s ability to effectively implement monetary policy in the pursuit of its maximum-employment and price-stability goals?
Question: 05. How could a CBDC affect financial stability? Would the net effect be positive or negative for stability?
Question: 06. Could a CBDC adversely affect the financial sector? How might a CBDC affect the financial sector differently from stablecoins or other nonbank money?
Question: 07. What tools could be considered to mitigate any adverse impact of CBDC on the financial sector? Would some of these tools diminish the potential benefits of a CBDC?
Question: 08. If cash usage declines, is it important to preserve the general public’s access to a form of central bank money that can be used widely for payments?
Question: 09. How might domestic and cross-border digital payments evolve in the absence of a U.S. CBDC?
Question: 10. How should decisions by other large economy nations to issue CBDCs influence the decision whether the United States should do so?
Question: 11. Are there additional ways to manage potential risks associated with CBDC that were not raised in this paper?
1. Risk of a Software Crisis
2. Risk of Lack of Stakeholder Buy-In
3. Risk Due to Poor Community of Interest (CoI) Governance
4. Risk Due to lack of Broad, Wide-Ranging Security Planning
5. Risk of Data being hacked due to weak Security Infrastructure
6. Risk of Meta-Data being hacked due to weak Security Infrastructure
7. Risk of Business Processes Being Hacked
8. Risk of competing Currency Models for the CBDC
Question: 12. How could a CBDC provide privacy to consumers without providing complete anonymity and facilitating illicit financial activity?
Question: 13. How could a CBDC be designed to foster operational and cyber resiliency? What operational or cyber risks might be unavoidable?
1. How could a CBDC be designed to foster operational and cyber resiliency?
a) Operational Resiliency
b) Cyber Resiliency
2. What operational or cyber risks might be unavoidable?
Question: 14. Should a CBDC be legal tender?
cbdc/public/cbdc_omg/04_doc/20_comments/brp/start.txt
· Last modified: 2022/06/17 18:23 by
terrance
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