14.4 C
London
Wednesday, September 28, 2022

RBA’s plan for a central bank digital currency continues as pilot project

Must read

Never-Before-Heard Facts About Angela Stacy: Actor Matt Lanter’s Beauty Blogger Wife

Angela Stacy, known today as Angela Lanter, is a full-time blogger and influencer. This Nashville-born blogger also has a YouTube channel where she...

Europe blames sabotage on Russian pipeline explosions

Sabotage was behind underwater explosions that spewed gas from two major pipelines connecting Europe and Russia, Western leaders agreed on Wednesday. The question...

Amazon’s latest Halo device is a bedside sleep tracker • londonbusinessblog.com

Exactly one year ago today, Amazon announced its entry into the fitness tracking space, with the launch of the Halo View. The wearable...

CoRise’s Upskilling Approach Includes Fewer Courses and More Access • londonbusinessblog.com

Despite the boom of investment and innovation in educational technology in recent years, founder Julia Stiglitz, who broke through in the edtech world as...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

The pilot is expected to take about a year to complete, developing a small-scale CBDC in a shielded environment where the currency nevertheless has a real claim to the Reserve Bank.

“The project will also be an opportunity to further understand some of the technological, legal and regulatory considerations associated with a CBDC,” the RBA said.

That means, unlike popular cryptocurrencies like Bitcoin and Ether, the CBDC issued by the RBA has the same validity as cash.

“Interested industry participants will be invited to develop specific use cases demonstrating how a CBDC can be used to provide value-added innovative payment and settlement services to households and businesses,” the RBA said in a statement.

“The Bank and the DFCRC will select a range of different use cases to participate in the pilot, based on their potential to provide insight into the potential benefits of a CBDC.”

A report on the project’s findings will result, with the findings shaping ongoing research into the desirability and feasibility of a CBDC in Australia.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Never-Before-Heard Facts About Angela Stacy: Actor Matt Lanter’s Beauty Blogger Wife

Angela Stacy, known today as Angela Lanter, is a full-time blogger and influencer. This Nashville-born blogger also has a YouTube channel where she...

Europe blames sabotage on Russian pipeline explosions

Sabotage was behind underwater explosions that spewed gas from two major pipelines connecting Europe and Russia, Western leaders agreed on Wednesday. The question...

Amazon’s latest Halo device is a bedside sleep tracker • londonbusinessblog.com

Exactly one year ago today, Amazon announced its entry into the fitness tracking space, with the launch of the Halo View. The wearable...

CoRise’s Upskilling Approach Includes Fewer Courses and More Access • londonbusinessblog.com

Despite the boom of investment and innovation in educational technology in recent years, founder Julia Stiglitz, who broke through in the edtech world as...

Limit reached – Join the EU Startups CLUB

€147/quarter This option is ideal for companies and investors who want to keep up to date with Europe's most promising startups, have full access...