  We propose a Central Bank Digital Currency Evaluation and Verification (CEV)
Framework for recommending and verifying technical solutions in the central
bank digital currency (CBDC) system. We demonstrate two sub-frameworks: an
evaluation sub-framework that provides consensus algorithm and operating
architecture solutions and a verification sub-framework that validates the
proposed solutions. Our framework offers a universal CBDC solution that is
compatible with different national economic and regulatory regimes. The
evaluation sub-framework generates customized solutions by splitting the
consensus algorithms into several components and analyzing their impacts on
CBDC systems. CBDC design involves a trade-off between system features - the
consensus algorithm cannot achieve all system features simultaneously. However,
we also improve the operating architectures to compensate for the weak system
features. The verification sub-framework helps verify our proposed solution
through empirical experiments and formal proof. Our framework offers CBDC
designers the flexibility to iteratively tune the trade-off between CBDC system
features for the desired solution. To the best of our knowledge, we are the
first to propose a framework to recommend and verify CBDC technical solutions.

Computational Engineering, Finance, and Science