Australia open to idea of CBDC as future of money: RBA
The RBA assistant governor in his speech noted that the pilot CBDC projects have highlighted several key areas where CBDCs could be of great use. The Reserve Bank of Australia (RBA) is open to the idea of using central bank-issued digital currency (CBDC) as the future of money where CBDC would represent a tokenized form of central bank reserves. Brad Jones, the assistant governor (Financial System) of RBA, in his speech titled “A Tokenised Future for the Australian Financial System,” talked about the opportunities and challenges arising from the tokenization of assets and money in the digital age while shedding light on the proposed plan to use CBDCs as a form of money . Jones started his speech by outlining the use of different forms of money over the course of history and how financial instruments have evolved over time. While talking about tokenization and tokenized forms of money in the modern era, Jones talked about stablecoins and CBDCs. He noted that stablecoins issued by...