Australian Central Bank Details Active CBDC Pilot Project In Telling Whitepaper
Australians are already testing a CBDC. Surprising no one, considering the authoritarian way that the government handled the lockdowns. The jury is still out on Central Bank Digital Currencies, while some authorities see them as problematic and prone to abuse, others are running a pilot program. The Reserve Bank of Australia, which is the country’s […]
Related News
Australia’s central bank, the Reserve Bank of Australia (RBA), has completed its pilot program exploring the potential use cases of a central bank digital currency (CBDC). The research project, carried out in conjunction with the Digital Finance Cooperative Research Centre (DFCRC), involved 16 selected industry participants, including Mastercard, Australian Bond Exchange, and Fame Capital. This […]
The pilot project will last a year, and the details for potential participants will be published in the next few months. The Reserve Bank of Australia weighs in the central bank digital currencies (CBDCs) race to explore use cases for a CBDC in the country. It will collaborate with the Digital Finance Cooperative Research Centre (DFCRC) on a respective research project. As stated in an announcement from Aug. 9, the joint project of the Reserve Bank and DFCRC will focus on “innovative use cases and business models” that could be supported by the issuance of a CBDC. The technological, legal....
While a number of countries are working on central bank digital currencies (CBDCs), on Tuesday, the Bank of Jamaica (BoJ) announced it will soon be piloting a CBDC project. The BoJ is working with a firm called Ecurrency Mint Incorporated and plans to pilot the cryptocurrency in May. Jamaican CBDC to Pilot this May Jamaica, the island country situated in the Caribbean Sea has plans to pilot a CBDC this May as it has been working with an “extensive procurement process.” The country’s central bank, the BoJ, has chosen a technology provider to help with the CBDC solution.....
The key objectives of the project are to identify and understand innovative business models, use cases, benefits, risks, and operational models for a CBDC in Australia. Making it to the list of countries that intend to launch an in-house central bank digital currency (CBDC), the Reserve Bank of Australia (RBA) released a white paper outlining an elaborate plan for conducting a pilot project for eAUD.On Aug. 9, 2022, the RBA announced a collaboration with the Digital Finance Cooperative Research Centre (DFCRC) to explore CBDC use cases for Australia. The joint research resulted in the....
The Bank of Ghana (BOG) says it has signed an agreement with Giesecke Devrient (GD) to implement a pilot central bank digital currency (CBDC) project. This pilot CBDC, which is a precursor to the e-cedi digital currency, is set to be tested with banks, payment service providers, merchants, consumers and other relevant stakeholders. Learning From the Trial Phase In a press release, the Ghanaian central bank says GD will provide the technology and a solution that suits Ghana’s requirements. The press statement adds that during the trial phase, a study seeking to look at “the....