Some look forward to the day when society as a whole goes completely cashless, while others see the possibility with absolute dread.
Many of the developed countries and advertising countriesSophisticated financial market ecosystems are now moving toward the next phase of implementing fully digital ecosystems, often with respective governments and central issuers of fiat currency, known as the acronym CDBC. We are discussing the implementation of what is known. It stands for Central Bank Digital Currency.
Central bank digital currencies are effectively digital counterparts to existing sovereign currencies, and many countries in Europe, North America and Southeast Asia are considering developing and deploying them. Australia is one such country.
While no such CDBC deployment has yet taken place, there is some speculation about the possibility of such a move by Australia’s central bank, the Reserve Bank of Australia.
The speculation has been fueled by recent moves by ANZ Bank, one of Australia’s largest Tier 1 financial institutions and the country’s largest institutional and corporate bank.
Last weekend, ANZ Bank announced it would permanently stop facilitating withdrawals and deposits from many of its Australian branches…More info: Blog forex open