Last week several U.S. federal departments issued a raft of papers addressing President Biden’s executive order on digital assets. Amongst them is a more detailed paper by the Office of Science and Technology Policy (OSTP) that explores the design options for a central bank digital currency (CBDC).
It makes very few specific recommendations, but it clearly lays out the pros and cons of several potential digital dollar features.
One of the paper’s few suggestions is that a digital dollar should be based on a permissioned system giving the central bank significant control. However, that’s based on the current state of technology. And by permissioned, it does not imply blockchain.
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