đ **RBA's Wholesale CBDC: The New Digital Down Under!** đŠđș
Hold onto your kangaroos, folks! The Reserve Bank of Australia (RBA) is hopping away from retail CBDCs and diving into the wholesale pool. đââïž
In a recent speech at Melbourne's Intersekt Fintech Conference, RBA's Assistant Governor Brad Jones unveiled a three-year roadmap focusing on wholesale digital money. Why? Because retail CBDCs are like Vegemite â not everyone's cup of tea!
Jones highlighted that wholesale CBDCs can reduce risks, boost transparency, and cut costs. Meanwhile, retail CBDCs could lead to bank runs and higher borrowing costs. Yikes!
Project Acacia is the RBA's next big thing, exploring tokenized commercial bank deposits and cross-border applications. Plus, they're diving into blockchain and smart contracts. Exciting times ahead!
What do you think? Is wholesale the way to go? Drop your thoughts below! đŹ
#Crypto #Blockchain #RBA #CBDC