cbdc:public:cbdc_omg:8_append:50_other:start
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cbdc:public:cbdc_omg:8_append:50_other:start [2022/05/18 21:38] nick ↷ Links adapted because of a move operation |
cbdc:public:cbdc_omg:8_append:50_other:start [2022/06/17 21:56] (current) terrance |
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| ====== Appendix C: Other Transaction Authority (OTA) ====== | ====== Appendix C: Other Transaction Authority (OTA) ====== | ||
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| - | | [[cbdc:public:cbdc_omg:8_append:start | Return to Apedices]] | <WRAP> | + | | [[cbdc:public:cbdc_omg:8_append:start | Return to Appendices]] | <WRAP> |
| <html><b> | <html><b> | ||
| - | <a href="mailto:[email protected]?Subject=OMG CBDC Response: | + | <a href="mailto:[email protected]?Subject=OMG's CBDC WG Response: |
| Appendix C: Other Transaction Authority (OTA) | Appendix C: Other Transaction Authority (OTA) | ||
| ">Provide Feedback</a></b> | ">Provide Feedback</a></b> | ||
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| [[cbdc:public:cbdc_omg:8_append:50_other:start| Return to Top]] | [[cbdc:public:cbdc_omg:8_append:50_other:start| Return to Top]] | ||
| - | The [[https://www.omg.org/ | Object Management Group ]] recommends the US Federal Reserve continues to pursue **''P0011''** and **''P0030''** but as two separate issues. It is essential the Federal Reserve pursues a CBDC (i.e., **''P0011''**) and makes recommendations based on using [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:1.2_views:3_taxonomic:4_data_tax:01_cog_taxonomy:start | Data, Information, Knowledge, Understanding and Wisdom]] gathered during the RTD&E efforts (i.e., **''P0030''**). CBDC is a large problem with many moving parts, all of which require a lot of systems analysis, engineering, and simulation in order to ensure public confidence: | + | The [[https://www.omg.org/ | Object Management Group's ]] CBDC WG recommends the US Federal Reserve continues to pursue **''P0011''** and **''P0030''** but as two separate issues. It is essential the Federal Reserve pursues a CBDC (i.e., **''P0011''**) and makes recommendations based on using [[https://www.omgwiki.org/dido/doku.php?id=dido:public:ra:1.2_views:3_taxonomic:4_data_tax:01_cog_taxonomy:start | Data, Information, Knowledge, Understanding and Wisdom]] gathered during the RTD&E efforts (i.e., **''P0030''**). CBDC is a large problem with many moving parts, all of which require a lot of systems analysis, engineering, and simulation in order to ensure public confidence: |
| : //For a nation’s economy to function effectively, its citizens must have confidence in its money and payment services. The Federal Reserve, as the nation’s central bank, works to maintain the public’s confidence by fostering monetary stability, financial stability, and a safe and efficient payment system. // from the **Executive Summary** provided in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]] White Paper | : //For a nation’s economy to function effectively, its citizens must have confidence in its money and payment services. The Federal Reserve, as the nation’s central bank, works to maintain the public’s confidence by fostering monetary stability, financial stability, and a safe and efficient payment system. // from the **Executive Summary** provided in the [[https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf | Money, and Payments: The U.S. Dollar in the Age of Digital Transformation]] White Paper | ||
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| Pursuing a CBDC that is flawed could ultimately inflict more damage than it is worth. | Pursuing a CBDC that is flawed could ultimately inflict more damage than it is worth. | ||
| - | After the Federal Reserve obtains OT Authority, the OMG further recommends that an **Other Transaction (OT) Consortium** be established. An OT Consortium is a formal relationship between a government sponsor (i.e., Federal Reserve) and a collection of traditional and non-traditional vendors, non-profit organizations, and academia aligned to a technology domain area (i.e., cyber, space, undersea, propulsion) that are managed by a single entity, and focused on innovative solutions to government technology challenges that meet the intended scope and purpose of other transactions. | + | After the Federal Reserve obtains OT Authority, the OMG's CBDC WG further recommends that an **Other Transaction (OT) Consortium** be established. An OT Consortium is a formal relationship between a government sponsor (i.e., Federal Reserve) and a collection of traditional and non-traditional vendors, non-profit organizations, and academia aligned to a technology domain area (i.e., cyber, space, undersea, propulsion) that are managed by a single entity, and focused on innovative solutions to government technology challenges that meet the intended scope and purpose of other transactions. |
| OT Consortium is based on the following [[https://aida.mitre.org/demystifying-dod/ots-otconsortia/ | OT Consortium Model]]: | OT Consortium is based on the following [[https://aida.mitre.org/demystifying-dod/ots-otconsortia/ | OT Consortium Model]]: | ||
cbdc/public/cbdc_omg/8_append/50_other/start.1652924304.txt.gz · Last modified: 2022/05/18 21:38 by nick
