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On November 2, Australia’s central bank announced that it had partnered with ConsenSys and several national financial institutions to explore the issuance of a central bank digital currency (CBDC).
- Australia’s Reserve Bank, the nation’s central bank, will partner with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys for a wholesale CBDC
- The cooperation will include the development of a Proof-of-Concept for the funding, settlement and repayment of a tokenized syndicated loan on an Ethereum-based platform
- Additionally, it will focus on the implications of an ‘atomic’ delivery-versus-payment settlement, and programmability and automation features of tokenized CBDC and financial assets
- The project is slated for completion by the end of 2020, with findings and a report expected in the first half of 2021
- ConsenSys is also working with Societe Generale and the Banque de France on a CBDC initiative
- The European Central Bank has also announced its plans to examine the issuance of a digital euro, asking for a public consultation on November 2, 2020
