This report, commissioned by Executive Order 14067, provides a technical evaluation of the feasibility and potential design of a Central Bank Digital Currency (CBDC) system in the United States. The report outlines policy objectives for a U.S. CBDC system and assesses the technical design choices that would support these objectives. It also estimates the feasibility of building a minimum viable product for a U.S. CBDC and considers the potential impact on federal processes. The report makes recommendations on how the U.S. government should prepare for a CBDC system, but does not make a recommendation on whether a CBDC should be pursued. The Office of Science and Technology Policy, which produced the report, was established to provide the President and others with advice on scientific, engineering, and technological aspects of the economy and other topics.
