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RBA partners with Perpetual and ConsenSys Software to explore CBDC uses and implications

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The project is expected to be completed around the end of 2020, and a project report will be released in the first half of next year.

Rhythm BlockBeats news, on November 2, the Reserve Bank of Australia announced on Monday that it will work with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software to explore large-scale issuance of central banks using distributed ledger technology (DLT). Possible uses and implications of a bank digital currency (CBDC).

The Reserve Bank of Australia stated that the project will involve the development of POC, as well as the issuance of a tokenized form of CBDC for the wholesale market Participants finance, settle and repay tokenized syndicated loans on an Ethereum-based DLT platform. .

The RBA also said the project would examine other potential programmability and automation features of tokenized CBDCs and financial assets. The central bank said the project is expected to be completed around the end of 2020 and will release a project report in the first half of next year.