What is central bank digital currency (CBDC)?

The Reserve Bank is actively researching central bank digital currency (CBDC) as a complement to existing forms of money. physical money in the form of banknotes, which can be used by households and businesses to make payments, and

What is a CBDC & how does it work?

digital money in the form of balances held in accounts that commercial banks and some other types of financial institutions can hold at the Reserve Bank to settle payment obligations between each other. A CBDC would be a new digital form of money issued by the Reserve Bank.

What is the Australian CBDC pilot for digital finance innovation?

‘ Australian CBDC Pilot for Digital Finance Innovation ’ 821 KB (White Paper) A collaborative project undertaken in 2020–2021 between the Reserve Bank, Commonwealth Bank of Australia, National Australia Bank, Perpetual and ConsenSys, with additional input from King & Wood Mallesons.

Is there a US CBDC?

There is no U.S. CBDC. The Federal Reserve and its branches are researching CBDCs and ways to implement them in the U.S. financial system; President Joe Biden has ordered the development of a national strategy on digital currencies.