; (ii) capable of instantaneous, final, direct, peer-to-peer, offline transactions; and (iii) capable of being distributed directly to, and owned, held, and used directly by, the general public. (B) At least two technologies selected for Proof-of-Concept Pilots shall be based on secured hardware-based architectures for the purposes of creation, distribution, holding, and payment that do not involve any common or distributed ledger. (C) At least one technology selected for Proof-of-Concept Pilots shall include a stored-value or pin card option for storage and payment of e-cash. (D) At least one technology selected for Proof-of-Concept Pilots shall include a cell phone or SIM card option for storage and payment of e-cash. (E) All technologies selected for Field Test Pilots shall have or at a minimum be capable of incorporating stored-value card functionality. (5) Special tender authority In order to facilitate and promote the effectiveness of the pilot programs, the Secretary may grant special recognition of prototypical e-cash instruments issued under a pilot program as legal tender, and direct the Board of Governors of the Federal Reserve System, other departments, branches, agencies, and instrumentalities of the United States Government, any other federally regulated financial institution to accept such prototypical e-cash instruments in settlement of outstanding obligations on an at-par basis. (6) Reporting Not later than 180 days after the date on which each phase of the pilot programs terminates, the Secretary shall submit to Congress a report regarding that phase of the pilot programs, which shall— (A) include— (i) a description of which elements of the pilot programs were successful and which were unsuccessful; (ii) recommendations regarding legislative changes to the pilot programs and related authority under this Act and elsewhere; and (iii) recommendations for additional pilots and revisions to the pilot program