Australian Central Bank, Commonwealth, National Australia Bank Partner on CBDC Research Project
The Australian central bank announced Monday it’s partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software to explore the possible use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT).
- The Reserve Bank of Australia said the project will involve the development of a proof-of-concept (POC) for the issuance of a tokenized form of CBDC for use by wholesale market participants for the funding, settlement and repayment of a tokenized syndicated loan on an ethereum-based DLT platform.
- The project is expected to be completed around the end of 2020 and a report will be issued on the project during the first half of next year, the central bank said.
