Reserve Bank of Australia kicks off CBDC project with NAB and CBA
The Reserve Bank of Australia is collaborating with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software on a project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT).
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Australia’s central bank launches digital currency project | Business News | WION
Australian Reserve Bank’s ‘Project Atom’ CBDC research finds numerous benefits
RBA to investigate economic benefits of a central bank digital currency
The Reserve Bank will spend the next 12 months investigating the economic benefits of a central bank digital currency in Australia.
Sky News Business Reporter Edward Boyd says the RBA is going to create a pilot digital Australian dollar and then operate it for the next 12 months as part of a research project to understand what it can be used for.
“And how it differs from just regular cash that you might have in your bank account,” Mr Boyd told Sky News Australia.