Australia to explore use cases for CBDC

The Reserve Bank of Australia (RBA) announced that it will conduct a pilot program to explore the use cases and potential economic benefits for central bank digital currencies (CBDCs).

This program will be carried out by the Digital Finance Cooperative Research Center (DFCRC), through a research project.

The currency that the RBA will develop will be in a private and protected environment, separate from the financial assets of users in general.

According to the report, the bank has conducted considerable research into the feasibility and possible technical design of CBDC, in particular exploring the potential use of new technologies, such as distributed ledger technology.

The project will also be an opportunity to better understand some of the technological, legal and regulatory considerations associated with a CBDC.

K. Tovar

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Source: Diariobitcoin