The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) are launching a one-year pilot project for central bank digital currency (CBDC). The goal is to work with the business sector to establish innovative use cases and business models demonstrating the economic benefits of introducing a CBDC.
“CBDC is no longer a question of technological feasibility,” said Dr Andreas Furche, CEO of the DFCRC. “The key research questions now are what economic benefits a CBDC could enable, and how it could be designed to maximise those benefits.”
As part of its work on exploring the viability of a CBDC, the Australian Treasury will participate in the project’s steering committee. Unlike the mass experiments for China’s digital yuan, this one will be of limited scale in a ring-fenced environment.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
