RBA to follow France with blockchain exploration

By Bill Thornhill
05 Nov 2020

The Reserve Bank of Australia has announced plans to explore the potential uses and implications of a central bank digital currency using distributed ledger technology. The RBA follows the Banque de France, which last year worked with Société Générale to settle a crypto covered bond — a product that offers a number of ways to deploy blockchain technology.

RBA is partnering with Commonwealth Bank, National Australia Bank, Perpetual and blockchain technology firm ConsenSys Software to examine the potential of a wholesale central bank digital currency (CBDC) that uses distributed ledger technology (DLT).

The project will involve the development of a proof-of-concept (POC) to issue a tokenised ...

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