What do you think about the RBA’s new digital Aussie dollar? Please complete this survey.
The Reserve Bank of Australia has announced the trial of a new Central Bank Digital Currency (CBDC).
The RBA says it “would be a new digital form of money issued by the Reserve Bank. It could be designed for retail (or general purpose) use, which would be like a digital version of banknotes …”
So many questions remain unanswered, including the big one: Why does Australia need this? What problem is being solved by the introduction of a Central Bank Digital Currency in Australia?
Is the possible introduction of a digital Aussie dollar the start of the end of the real cash?
If the RBA introduces a digital Aussie dollar what are the guarantees that real, physical notes and coins will continue to be available and able to be used in shops and businesses?
The RBA is asking businesses to propose possible uses for a CBDC
RBA deputy governor Michelle Bullock told ABCTV that the trial is “an important step” on the path to a potential Australian CBDC. However Ms Bullock said the CBDC is not inevitable.
“I think we just don’t want to be left behind,” said Ms Bullock, I don’t think it’s inevitable.”
So now is the time to make our voice heard. Please take two minutes to complete our easy, 10-question online survey. We will be sharing the results with government, the RBA and regulators.
Please share the survey link and encourage your friends and family to complete the survey:
https://www.surveymonkey.com/r/DigitalAussieDollar