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AlberthaDewandariFirstPaper 7 - 12 May 2022 - Main.EbenMoglen
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The Role of Digital ID in the Implementation of Central Bank Digital Currency | | | Having a functioning digital ID scheme for the provision of financial services already in place, like the LEI codes, could be an incentive to adopt a wholesale CBDC model that leverages an existing and extensive network of a global institution. On the other hand, introducing a retail CBDC paired with a digital ID scheme, like MyInfo? , to promote financial inclusion on a large scale may represent an opportunity to boost digitalization efforts. The Federal Reserve may also consider to incorporate or combine the digital ID scheme for CBDC with SSN or number of state-issued ID.
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< | You cite not one shred of authority for the proposition that any international legal obligation constrains how states organize their payment systems. If this is to be the point of the essay then you must present some evidence in support of a proposition that appears facially untrue. | >
> | The addition of sources was helpful, but the loss of the original main idea left none behind. So we have a draft that says "central bank digital currencies may exist, and they will have some properties, but not anonymity." This technical analysis is still incomplete, as I said. You might have followed up on the ECASH Act, as I suggested, including perhaps even my law partner Mishi Choudhary's House subcommittee testimony from last month, to see why that matters to your theme. | | | | |
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< | In general, improving this draft involves putting the writing in touch with sources. You make no links even to statements of fact, let alone put yourself in dialogue with anyone else's analysis.
Your technical analysis is incomplete. Central bank digital currencies are certainly under study, but anonymous digital cash is once again a policy alternative in the mix. See, e.g., HR 7231 introduced in the US House of Representatives on March 28. | | |
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