{"id":135233,"date":"2022-02-04T18:24:42","date_gmt":"2022-02-05T02:24:42","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2022\/02\/experts-test-technical-research-for-a-hypothetical-central-bank-digital-currency"},"modified":"2022-02-04T18:24:42","modified_gmt":"2022-02-05T02:24:42","slug":"experts-test-technical-research-for-a-hypothetical-central-bank-digital-currency","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2022\/02\/experts-test-technical-research-for-a-hypothetical-central-bank-digital-currency","title":{"rendered":"Experts test technical research for a hypothetical central bank digital currency"},"content":{"rendered":"

<\/a><\/p>\n

In collaboration with a team at the Federal Reserve Bank of Boston, MIT experts have begun designing and testing technical research through which further examination of a Central Bank Digital Currency (CBDC) can be performed in the U.S.<\/p>\n

The effort, known as Project Hamilton, is in an exploratory phase, and the research is not intended as a pilot or for public deployment. Instead, the researchers have explored two different approaches that could be used to process transactions, and thus could indicate the technical feasibility of a potential CBDC model. In a process involving significant design flexibility, the MIT group tested factors such as the volume and speed of transactions, and the resilience of the systems in general, among other requirements for a viable digital currency<\/a>.<\/p>\n

\u201cThe core of what we built is a high-speed transaction<\/a> processor for a centralized digital currency, to demonstrate the throughput, latency, and resilience of a system that could support a payment economy at the scale of the United States,\u201d says Neha Narula, director of MIT\u2019s Digital Currency Initiative and a research scientist at the MIT Media Lab, who led the effort with the Boston Fed. \u201cIt is important to note that this project is not a comment on whether or not the U.S. should issue a CBDC\u2014but work like this is vital to help determine the answer to that question. This project serves as a platform for creating and comparing more viable designs, and provides a place to experiment and collaborate on more advanced digital currency functionality.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In collaboration with a team at the Federal Reserve Bank of Boston, MIT experts have begun designing and testing technical research through which further examination of a Central Bank Digital Currency (CBDC) can be performed in the U.S. The effort, known as Project Hamilton, is in an exploratory phase, and the research is not intended [\u2026]<\/p>\n","protected":false},"author":427,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1761,39,45],"tags":[],"class_list":["post-135233","post","type-post","status-publish","format-standard","hentry","category-cryptocurrencies","category-economics","category-finance"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/135233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/427"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=135233"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/135233\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=135233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=135233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=135233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}