Australia Reserve Bank will study the options for using CBDC ## pilot project will last a year, and the details for potential participants will be published in the next few months.

pilot project will last a year, and details for potential participants will be published in the next few months.

The Australian Reserve Bank has joined the digital currencies of central banks (CBDC) to study the options for using CBDC in the country. He will cooperate with the Digital Finance Cooperative Research Center (DFCRC) research center as part of the relevant research project. As stated in the announcement on Tuesday, the joint project of the reserve bank and DFCRC will be focused on "innovative use and business models" that may be supported by the release of CBDC. During the project, technological, legal and regulatory considerations will also be evaluated. The pilot project will last about a year and will have the form of a CBDC that operates in a fenced environment. Interested parties in the industry will be proposed to develop specific use scenarios that the bank and DFCRC will then be appreciated. The selected examples will participate in the pilot, according to the results of which a special report will be prepared. Similar: Huobi received a green light as a supplier of exchange services in Australia The backup bank intends to publish a document with more detailed information about the project in the next few months. According to Michel Bullock, deputy manager of the reserve bank: "This project is an important next step in our CBDC study. We are looking forward to the opportunity to communicate with a wide circle of industry participants in order to better understand the potential advantages that Australia CBDC can bring." DFCRC is a research program worth $ 180 million financed by industry partners, universities and the Australian government, the purpose of which is to combine the efforts of interested parties in the financial industry, scientific circles and regulatory bodies for the development of opportunities arising as a result of the next transformation of financial markets. On Friday, the bank of Thailand announced a two -year pilot testing of retail CBDC, which should begin by the end of 2022.