Australia’s CBDC will be called eAUD.
eAUD platform will launch on an Ethereum forked blockchain and the Pilot project on the CBDC is expected to be complete around mid-2023.
Australia has released a Whitepaper outlining fresh details of its Central Bank Digital Currency (CBDC) as the race towards launching digital currencies around the globe intensifies.
The document, which was made public on Monday, comes after the Reserve Bank of Australia (RBA) partnered with the Digital Finance Cooperative Research Centre (DFCRC) in August to conduct research and steer the project’s pilot program. According to the paper, the purpose of the CBDC pilot program is to explore innovative use cases and business models that could be supported by the issuance of a CBDC.
The paper reads:
The project intends to test a general-purpose pilot CBDC issued as a liability of the RBA for use in real-world, pilot implementations of services offered by Australian industry participants.
The program, which is...
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