Today the Reserve Bank of Australia announced its planning a proof of concept (PoC) for a wholesale central bank digital currency (CBDC) based on distributed ledger technology (DLT), or more specifically, Ethereum blockchain technology.
It involves partnering with the Commonwealth Bank, the National Australia Bank, Perpetual and U.S. blockchain firm ConsenSys. The project is predicted to be completed by the end of this year, with a report to be released in the first half of next year.
The initiative will focus on tokenizing syndicated loans, including their funding, settlement and repayment. Apart from automation and programmability, the trials will also explore the impact of atomic delivery versus payment (DvP).
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