“Given the likely benefits and risks, at present there does not seem to be a strong public policy case for issuance in Australia. Nonetheless, it will be important to closely watch the experience of other jurisdictions that are considering implementing CBDC projects.” RBA
Reserve Bank of Australia
The RBA considered the feasibility of CBDCs in a published paper.
The RBA position was not very welcoming to a CBDC stating the risks outweighed the benefits.
Some considerations were –
- Stability (Major Change)
- Legal (Printing Notes)
- Competition (Payments)
Consideration is also paid to the two ways (account and token) to implement a CBDC model.
Digitization has picked up in Australia, generally.