The program involves a partnership between the Reserve Bank of Australia (RBA) and the government-backed business group Digital Finance Cooperative Research Centre (DFCRC).
In order to truly comprehend a few of the technological, legal, and regulatory issues surrounding the issuing of a CBDC, the initiative will aim to find novel use cases and business strategies that might be backed by it.
This would entail the creation of a trial CBDC on a small level that will function in a shielded setting and feature a CBDC that is a valid argument on the Reserve Bank of Australia (RBA).
The development of particular use cases that illustrate how such a CBDC may be utilized to offer cutting-edge and value-added settlement and payment solutions to consumers and enterprises will be requested from industry partners interested in said services.
