Thanks for the response and clarification. What's the best way to discover papers on hypothetical US CBDCs? I've seen one international paper and one on US FedAccounts.
> Almost 50 central banks have already launched designs for central bank digital currencies (CBDCs) or prototypes ... The paper discusses ... what they imply for the financial system and the central bank of the future. It sets out the requirements for a “minimally invasive” CBDC design ... digital banknotes that run on “intermediated” or “hybrid” CBDC architectures show promise. Supported with technology to facilitate record-keeping by private sector entities of direct claims on the central bank, their economic design should emphasise the use of the CBDC as medium of exchange.
> Congress should authorize the Federal Reserve to give everyone—individuals, businesses, and institutions—the option to maintain accounts at the central bank. We call these accounts FedAccounts. Unlike the CBDC approaches currently under discussion, which would use complicated and inefficient distributed ledger technology and be walled off from the existing system of money and payments, FedAccounts would be seamlessly interoperable with the mainstream payment system, relying on technologies that the Federal Reserve has used for decades.
08 June 2021, "Central bank digital currency: the quest for minimally invasive technology", https://www.bis.org/publ/work948.htm
> Almost 50 central banks have already launched designs for central bank digital currencies (CBDCs) or prototypes ... The paper discusses ... what they imply for the financial system and the central bank of the future. It sets out the requirements for a “minimally invasive” CBDC design ... digital banknotes that run on “intermediated” or “hybrid” CBDC architectures show promise. Supported with technology to facilitate record-keeping by private sector entities of direct claims on the central bank, their economic design should emphasise the use of the CBDC as medium of exchange.
28 Jan 2021, "FedAccounts: Digital Dollars", https://www.gwlr.org/fedaccounts-digital-dollars/
> Congress should authorize the Federal Reserve to give everyone—individuals, businesses, and institutions—the option to maintain accounts at the central bank. We call these accounts FedAccounts. Unlike the CBDC approaches currently under discussion, which would use complicated and inefficient distributed ledger technology and be walled off from the existing system of money and payments, FedAccounts would be seamlessly interoperable with the mainstream payment system, relying on technologies that the Federal Reserve has used for decades.