![sample boston personal budget sample boston personal budget](https://moneygoody.com/wp-content/uploads/2016/07/Monthly-Budget-Spreadsheet-1.png)
Our secondary goal was to create a flexible platform for collaboration, data gathering, comparison with multiple architectures, and other future research. Our primary goal was to design a core transaction processor that meets the robust speed, throughput, and fault tolerance requirements of a large retail payment system. This paper presents the project's Phase 1 research. The Federal Reserve Bank of Boston (Boston Fed) and the Massachusetts Institute of Technology's Digital Currency Initiative (MIT DCI) are collaborating on exploratory research known as Project Hamilton, a multiyear research project to explore the CBDC design space and gain a hands-on understanding of a CBDC's technical challenges and opportunities. The answers to these questions will have meaningful implications and consequences for what options are, or are not, available to policymakers. Central banks, researchers, and policymakers have proposed various objectives including fostering financial inclusion, improving efficiency in payments, prompting innovation in financial services, maintaining financial stability, and promoting privacy 2 3 9 19.īecause the CBDC research process is still in early stages in many jurisdictions, several technical design questions remain open for investigation. CBDCs could exist in various forms depending on a central bank's objectives, including a general-purpose CBDC that can be made available to the public for retail, e-commerce, and person to person payments. In light of continued innovation in money and payments, many central banks are exploring the creation of a central bank digital currency (CBDC), a new form of central bank money which supplements existing central bank reserve account balances and physical currency 5.