The white paper is the outcome of a partnership between the RBA and the Digital Finance Cooperative Research Centre.
According to a white paper released on Monday, September 27, the Reserve Bank of Australia (RBA) expects to complete its central bank digital currency (CBDC) pilot by the middle of 2023.
The CBDC pilot is intended to demonstrate the benefits of digital currency in terms of price, speed, and quality. According to the white paper, the project was also investigating the regulatory issues connected to a CBDC.
The white paper also contains more details on the CBDC project, such as the name of Australia’s pilot currency – the eAUD.