Following Treasurer Josh Frydenberg’s payments and crypto reform plan, RBA published a report into its two-year research project into wholesale central bank digital currencies (CBDCs) that emphasized the benefits of digitising and autonomising manual, paper-based banking processes using distributed ledger technology (DLT).
The report marks the conclusion of the two-year project named ‘Project Atom’ that was conducted in partnership with the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Perpetual, and ConsenSys, along with additional input from King & Wood Mallesons.
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