The country's central bank explained which areas will be affected by the research into its own digital currency and whenits first concept will be presented.
Reserve Bank of Australia (RBA), performingfunctions of the central bank, chose the blockchain of the Ethereum cryptocurrency to study the possibilities of issuing its own digital currency, as reported on its official website. To conduct research, the regulator has partnered with banks Commonwealth Bank and National Australia Bank, as well as financial services company Perpetual and decentralized product developer ConsenSys.
RBA plans to introduce digital currency conceptcentral bank (CBDC) by the end of this year, and in the first half of next year, to publish a report containing details and results of the experiments. Assistant Governor of the RBA Michelle Bullock clarified that the research will concern the wholesale market and will examine how the efficiency of operations carried out on it can be improved by introducing digital currency.
In September, a French financial conglomerateSociete Generale said it will experiment with digital currency. For this, the company chose the Tezos blockchain cryptocurrency. The company is exploring the possibility of settling digital securities using digital currency.
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