10:20:47 From Moises Jaramillo : Proof of Work made sense at that time in order to computationally deter rogue nodes from easily forking the chain 10:27:38 From Imre Kocsis, BME : The MIT-FED collaboration produced an open source "transaction processor" prototype, available to : https://dci.mit.edu/opencbdc It seems to be very solid. 10:30:50 From Moises Jaramillo : Notice that anonymity and privacy were not addressed for Phase I of this prototype 10:33:14 From Imre Kocsis, BME : We are in quite a different league as MIT (mid-sized Eastern-European state university, although our dept. name abbreviates to MIT in Hungarian as well :P), but we didn't do that in our own CBDC prototype, either :) 10:33:36 From Mark Annett : One of the things that people need to be concerned about is that the big banks have been collecting a lot of patents in the IP space, which is one of the reasons I believe this is coming now, because they have secured a lot of rights and this isn’t a threat to them like it previously was. 10:34:57 From Imre Kocsis, BME : In short, if you have crypto-style pseudonymization (with asymmetric key pairs) and possibly also UTXO-s, privacy is known to be solvable for quite a large privacy requirement space 10:35:17 From John Gostomski : Mark that is a good point! 10:37:04 From John Gostomski : Here is a good group to align with out of NYC https://blockchain101.com/ 10:37:22 From vincentyoumans : there are a lot of evolving Consensus models that are more energy efficient. is gov giving any endorsements to specific technology? 10:39:26 From jeff pribich : .No mention of the tax imposed on crypto and digital asset market activity through any proposed regulations within this administrative request. The government will in fact determine how tax is to be imposed under the eventual proposed legislation. This is how government operates. In addition, the "agency" formed for oversight will have a significant bureaucracy that must be funded. Thoughts? 10:39:27 From vincentyoumans : I am most interested in the Ledger technology. Is the gov looking at running their own BlockChain to record information? perhaps a BlockChain of Realestate transactions? 10:40:19 From John Gostomski : we have an open mic 10:40:22 From John Gostomski : noise 10:41:43 From mi novac : @vincentyoumans: I doubt USG will run blockchain. (IMO) There are private sector Real Estate chains in progress Fibree is one 10:42:16 From Alan N. Walter : Vincent, in the US real estate transactions are tracked on the county level. The Feds, of course, can propose a protocol 10:46:21 From Donato Mallano : what was the use case for the Rhode Island Blockchain 10:47:38 From John Stevens : My piece on self-sovereign identity: https://www.linkedin.com/pulse/yeah-im-connected-blockchain-youre-wiseguy-john-stevens-pmp-msmit 10:48:27 From mi novac : But SSI requires parties to participate. Not all will for many reasons. still work to do 10:48:57 From Imre Kocsis, BME : It may be worth to mention that "the" technology for SSI right now (or still) is Hyperledger Indy + Aries 10:49:26 From mi novac : cost / value tradeoff. greed 10:49:44 From John Gostomski : Why greed! 10:49:45 From mi novac : sorry *agreed* ;-) 10:49:51 From John Gostomski : k 10:50:21 From mi novac : mention of BC Canada...? 10:51:22 From John Gostomski : Someone on a YouTube road sign funny comments " The IRS" stands for "THE-IRS"! 10:51:25 From mi novac : true. must grandfather in older records. But assumes a device..... 10:52:40 From John Gostomski : Developing systems will be the records most necessary in the beginning to do present/future business. The rest 10:52:49 From vincentyoumans : I just destroyed my phone and it was a misserable expereince. There should be a secure Backup and recovery system to keep credentials. 10:52:54 From John Gostomski : can be added as time progresses 10:53:10 From John Gostomski : Parallel development 10:56:14 From Tom UX Chang : What controls will be added to control use of CBDC by recipients, e.g., will I be prevented from using it somewhere, on something(s), anytime, for any reason without due process? 10:59:19 From John Stevens : NTD, thanks for hosting Jim 11:00:04 From Moises Jaramillo : My question would be more on the expertise and biases that the assigned team has. Do they comprehend the technology well enough? Do they see the value of decentralization? Are they already biased eg. Elizabeth Warren? 11:00:36 From Patrick Townsend : Great session, thanks! 11:01:26 From jeff pribich : Great information, especially your expertise in this area. Thanks! 11:01:27 From Imre Kocsis, BME : @Tom, In theory, CBDC-s can be constructed so that nothing can happen to your money without due process. On the other hand, expect very strong due process controls to be present above an amount threshold (at the very least legal seizure; legally, CBDCs will be most probably electronic money, not "electronic cash") 11:02:16 From Scott Cochrane : Is there an opportunity for us as individuals to contribute to the research and recommendations that will be performed as a result of this executive order? 11:05:04 From tnt : hello, will this video be posted on youtube. Thank yo! 11:06:25 From Moises Jaramillo : Thank you Jim, great session!!! 11:06:25 From Tom UX Chang : Will a social credit system like China’s depend on a CBDC? 11:08:39 From Tom UX Chang : Thanks @Imre 11:09:51 From John Gostomski : I agree with that! HaHa! 11:10:14 From Tom UX Chang : TOO SHORT 11:11:30 From Mitul Shah : great session thank you! 11:11:39 From tnt : are therer any professional resoruces you would recommend to seek guidance on these topis and issues like a law firm or agency or gov agency 11:11:52 From John Gostomski : So consider this episode #1, thank you 11:13:16 From Jim Mason : √ 11:13:19 From Jim Mason : https://wiki.hyperledger.org/display/PSSIG/Public+Sector+SIG 11:13:34 From Carol : Thank you! Great info 11:13:39 From Liz L : Thank you, quite informative! 11:13:41 From mi novac : thank you, Jim ! 11:13:58 From mi novac : you passed !