Following the instructions of the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP, for its acronym in English) presented a report that analyzes the design options of 18 systems of digital currencies issued by banks (CBDC) for possible implementation in the United States.
Technical analysis of the 18 CBDC design options was done across six broad categories: participants, governance, security, transactions, data, and settings. The OSTP anticipates technical complexities and practical limitations in attempting to build a permissionless system governed by a central bank, adding:”It is possible that the technology underpinning a permitless approach will improve significantly over time, which could make it more suitable for use in a CBDC system.”
- Biden to Sign Executive Order on Crypto and Authorize Government-Wide Effort to Strengthen Regulation
However, the analysis assumed that there is a central authority and authorized CBDC system in place.
