Reserve Bank Finalizes CBDC Research
A study on the findings from a collaborative research initiative with industry that examined potential use cases for a central bank digital currency (CBDC) in Australia was published today by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC).
The RBA issued a pilot CBDC to demonstrate its potential in providing innovative payment and settlement services to Australian households and businesses. The project highlighted various use cases for CBDCs to enhance the payments system, while also raising legal, regulatory, technical, and operational issues that require further research. The pilot CBDC demonstrates the potential of CBDCs in various applications.
The RBA and DFCRC would like to express their gratitude to the several business professionals who put a lot of time and effort into the project.
(With inputs from Shikha Singh)
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