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 announcement came with a new report, detailing how the central bank and the Digital Finance CRC were able to engage with the financial industry to study the use cases for a CBDC.
Australian CBDC Could Compliment Existing Payment Systems: Report
In a report published on Wednesday, August 23, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre revealed their findings from the recently concluded pilot program. The document delves into the potential use cases of a digital Australian dollar and how it could potentially improve existing payment structures.
The study fo
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