{"id":489688,"date":"2022-09-02T08:55:18","date_gmt":"2022-09-02T05:55:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/think-tank-launches-technical-sandbox-exploring-united-states-cbdcs\/"},"modified":"2022-09-02T08:55:18","modified_gmt":"2022-09-02T05:55:18","slug":"think-tank-launches-technical-sandbox-exploring-united-states-cbdcs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/think-tank-launches-technical-sandbox-exploring-united-states-cbdcs\/","title":{"rendered":"# Think tank launches \u2018technical sandbox\u2019 exploring United States CBDCs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2729a1808d2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2729a1808d2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/think-tank-launches-technical-sandbox-exploring-united-states-cbdcs\/#%E2%80%9D_Think_tank_launches_%E2%80%98technical_sandbox_exploring_United_States_CBDCs_%E2%80%9C\" >&#8221; Think tank launches \u2018technical sandbox\u2019 exploring United States CBDCs &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Think_tank_launches_%E2%80%98technical_sandbox_exploring_United_States_CBDCs_%E2%80%9C\"><\/span>&#8221; Think tank launches \u2018technical sandbox\u2019 exploring United States CBDCs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvMTgwMTU5ZmItNzU0OC00ZTVjLTlkYjgtODI5ZTRiODc4MjQ0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-3511d6da>A United States think tank has launched a \u201ctechnical sandbox\u201d aimed at advancing the exploration of a potential United States central bank digital currency (CBDC).<\/p>\n<p>In a Wednesday Tweet from Digital Dollar Project (DDP), the organization said the new program would <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mobile.twitter.com\/Digital_Dollar_\/status\/1565108406838501376\">explore<\/a> \u201ctechnical and business implementation\u201d questions revolving around a U.S. CBDC. <\/p>\n<p>The organization noted that the initial participants of the sandbox include crypto-firm Ripple, financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> company Digital Asset, software platform Knox Networks and banking solutions firm EMTECH. <\/p>\n<p>The Technical Sandbox Program aims to give the federal government, policymakers and the private sector a clearer understanding of how a potential CBDC would be rolled-out. <\/p>\n<p>This includes the potential implications to retail and wholesale and international use cases such as cross-border payments. <\/p>\n<p>The U.S Federal Reserve has yet to decide whether or not it will implement a CBDC but has been exploring the potential risks and benefits that come with them. <\/p>\n<p>On Jan. 20, it\u00a0released a discussion paper examining the pros and cons of CBDCs but neglected to give any hints about its future plans.<\/p>\n<p>The paper suggested that CBDCs could act as digital money free from credit and liquidity risks, improve cross-border payments, help preserve the dominance of the U.S dollar, promote financial inclusion and extend public access to safe central bank money. <\/p>\n<p>Potential risks found included a changed U.S financial system, more severe bank runs for other forms of money, reducing the power of monetary policy, operational resilience and a difficult balance between transparency and safeguarding consumer privacy rights.<\/p>\n<p>Meanwhile, China\u2019s own CBDC, the digital yuan, is quickly being rolled out across the country, while the same is occurring in Nigeria with the eNaira. The Bahamas and countries of the Eastern Caribbean Currency Union have also launched CBDCs, while Russia is set to roll out its own in 2024.<\/p>\n<p>The FedNow service, an instant payment service set to be launched in mid-2023, aims to begin \u201ctechnical testing\u201d in September, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/other20220829a.htm\">according<\/a> to a Monday press release. FedNow is seen as a step toward an eventual CBDC.<\/p>\n<p>Davis Wright Tremaine LLP partner Alexandra Steinberg Barrage, a former FDIC policy expert, tweeted her support for the program on Wednesday. Barrage suggested that regardless of what your views are on a U.S. CBDC, pilot programs and data are essential when evaluating new tech.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">No matter your views on a US CBDC (retail , wholesale), it&#8217;s important to evaluate tech <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches alongside varied and complex policy issues. W\/out data, robust public\/private-pship, &amp; pilots w\/consumers and inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries, we cannot sharpen our thinking.  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Digital_Dollar_?ref_src=twsrc%5Etfw\">@Digital_Dollar_<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/xLy02IOz6b\">https:\/\/t.co\/xLy02IOz6b<\/a><\/p>\n<p>\u2014 Alexandra Steinberg Barrage  (@alexbarrage1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alexbarrage1\/status\/1564980141834457091?ref_src=twsrc%5Etfw\">August 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe Technical Sandbox Program is set to begin in October with cross-border payments being the initial focus for the early participants.<\/p>\n<p>The program is set to be released in two separate phases, including an educational phase and a pilot phase.<\/p>\n<p>During the educational phase, providers and participants will seek to understand the technology from both a functional and business perspective. While in the pilot phase, the focus will be on identifying and testing specific ways in which CBDCs can be utilized.<\/p>\n<p><strong>Related: <\/strong><strong><em>Fed and MIT&#8217;s CBDC research: Distributed ledger tech has \u2018downsides\u2019<\/em><\/strong><\/p>\n<p>The Digital Dollar Project is a partnership between the not-for-profit organization Digital Dollar Foundation and IT consulting firm Accenture. DDP seeks to encourage research and discussion around a U.S. CBDC and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/digitaldollarproject.org\/wp-content\/uploads\/2021\/05\/Digital-Dollar-Project-Whitepaper_vF_7_13_20.pdf\">released<\/a> a white paper\u00a0proposing a tokenized U.S. digital dollar in May 2020.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/think-tank-launches-technical-sandbox-exploring-united-states-cbdcs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Think tank launches \u2018technical sandbox\u2019 exploring United States CBDCs &#8220; A United States think tank has launched a \u201ctechnical sandbox\u201d aimed at advancing the exploration of a potential United States central bank digital currency (CBDC). In a Wednesday Tweet from Digital Dollar Project (DDP), the organization said the new program would explore \u201ctechnical and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":489689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvMTgwMTU5ZmItNzU0OC00ZTVjLTlkYjgtODI5ZTRiODc4MjQ0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75046,82563,96725,116545,75034,74355,117,70550],"class_list":["post-489688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cbdc","tag-cross-border-billing","tag-press-release","tag-reserve-bank","tag-ripple","tag-adoption","tag-business","tag-federal-reserve"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/489688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=489688"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/489688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/489689"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=489688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=489688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=489688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}