Category: Australia

14-01-21 Bitcoin in Race for Adoption Before CBDC in E-commerce: Australia’s Macquarie

With a runway of a year or more before the Federal Reserve and other major central banks can launch digital currencies, bitcoin and other private cryptocurrencies could gain a foothold in electronic commerce.

Central banks like the Federal Reserve and European Central Bank risk losing the digital-currency race if private cryptocurrencies like bitcoin become too entrenched in electronic commerce, according to a new research note from the Australian investment bank Macquarie.

https://www.coindesk.com/bitcoin-race-for-adoption-central-bank-digital-currencies

16-11-20 There is currently no strong public policy case to introduce a CBDC for retail use.

The Reserve Bank of Australia (RBA) has announced a partnership with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software to explore the use of a wholesale central bank digital currency (CBDC) using distributed ledger technology (DLT).

The project is currently limited to the wholesale market, reflecting the RBA’s conclusion in a recent bulletin on the Design Considerations, Rationales and Implications of a Retail CBDC that there is currently no strong public policy case to introduce a CBDC for retail use.

26-09-20 Reserve Bank of Australia confirmed the Bank has no plans to issue a retail CBDC just yet.

Today at the UWA Blockchain and Cryptocurrency Conference, the Head of Payments Policy at the Reserve Bank of Australia, Tony Richards, confirmed the Bank has no plans to issue a retail central bank digital currency (CBDC) just yet. Instead, the Bank will continue with research into decentralized ledger technology (DLT) and its uses. 

https://www.ledgerinsights.com/reserve-bank-australia-cbdc-central-bank-digital-currency/