As directed by the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report analyzing the design choices for 18 Zentralbank digital Währung (CBDC) systems for possible implementation in the US.
Déi technesch Analyse of the 18 CBDC design choices was made across six broad categories — participants, governance, security, transactions, data and adjustments. The OSTP foresees technical complexities and practical limitations when trying to build a permissionless system governed by a central bank, adding:
"Et ass méiglech datt d'Technologie, déi eng permissionless Approche ënnersträicht, mat der Zäit wesentlech verbessert gëtt, wat et méi gëeegent mécht fir an engem CBDC System ze benotzen."
However, the analysis assumed there is a central authority and a permissioned CBDC system.
Helping policymakers decide on the ideal US CBDC system, the OSTP report highlighted the implications of including third parties in the two design choices under the ‘participants’ category — transport layer and interoperability. For governance, the report weighed various factors related to permissioning, access tiering, identity privacy and remediation.
Other important factors OSTP wants policymakers to consider include cryptography and secure hardware (for security), signatures, transaction privacy, offline transactions and transaction programmability (for transactions), data model and ledger history (for data) and fungibility, holding limits and adjustments on transactions and balances (for transactions).
The technical evaluation for a US CBDC system highlighted the report’s inclination toward an off-ledger, hardware-protected system. Upon the launch of a US CBDC, the report will eventually highlight the various trade-offs policymakers decided to make when finalizing the design choices.
Verbonnen: D'Wäiss Haus publizéiert 'éischt-jee' iwwergräifend Kader fir Krypto
On Sept. 8, the OSTP recommended monitoring and regulation while weighing the environmental and energy impact of crypto assets an den USA.
The related OSTP report highlighted that crypto assets use approximately 50 billion kilowatt-hours of energy per year in the U.S., which is 38% of the global total, while adding:
"Bemierkung datt direkt Vergläicher komplizéiert sinn, Visa, MasterCard, an American Express kombinéiert […] manner wéi 1% vun der Elektrizitéit verbraucht hunn, déi Bitcoin an Ethereum datselwecht Joer benotzt hunn, trotz vill Mol d'Zuel vun On-Chain Transaktiounen ze veraarbecht an hir méi breet ënnerstëtzen. Firmenbetrieb."
The report further noted the high energy consumption of Aarbechtskleedung (PoW) staking in crypto assets.
Source: https://cointelegraph.com/news/white-house-ostp-department-analyzes-18-cbdc-design-choices-for-the-us