{"id":83491,"date":"2023-08-23T18:23:52","date_gmt":"2023-08-23T15:23:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83491"},"modified":"2025-09-12T11:25:13","modified_gmt":"2025-09-12T08:25:13","slug":"rba-says-cbdc-launch-still-several-years-away","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/rba-says-cbdc-launch-still-several-years-away\/","title":{"rendered":"RBA says CBDC launch still several years away"},"content":{"rendered":"<p>The release of the digital Australian dollar is still several years away. The central bank <a href=\"https:\/\/www.rba.gov.au\/media-releases\/2023\/mr-23-21.html\">said<\/a> in a statement following the pilot phase.<\/p>\n<p>It ran from March to July 2023.<\/p>\n<p>The initiative envisaged a limited issuance <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a> to test 16 different use-case scenarios by selected industry participants.<\/p>\n<p>The central bank stressed that earlier research had demonstrated proof of concept, while the current phase involves issuing a real payment obligation.<\/p>\n<p>Participants concluded that the national digital currency could potentially benefit Australian households and firms.<\/p>\n<p>The document stressed the possibility of direct control and programmability of a tokenised CBDC. This enables a range of sophisticated payment mechanisms not supported by existing systems.<\/p>\n<p>The regulator noted that further research is needed to address legal, regulatory, technical, and operational questions surrounding CBDC.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Given the payment system&#8217;s alignment with most users&#8217; needs, and with most CBDCs in developed economies still in the research phase \u2014 any serious consideration of issuing the digital Australian dollar is still several years away,&#8221;<\/em> the report said.<\/p>\n<\/blockquote>\n<p>In June, the Reserve Bank of Australia <a href=\"https:\/\/forklog.com\/en\/news\/reserve-bank-of-australia-signals-a-more-prominent-role-for-stablecoins-in-the-economy\">permitted<\/a> a more prominent role for stablecoins in the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The release of the digital Australian dollar is still several years away, the central bank said after the pilot phase.<\/p>\n","protected":false},"author":1,"featured_media":83492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1095,36],"class_list":["post-83491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-cbdc","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83491"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83491\/revisions"}],"predecessor-version":[{"id":83493,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83491\/revisions\/83493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83492"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}