RBA must tread carefully with digital currency

Experts are warning the Reserve Bank of Australia (RBA) needs to be extremely carefully about how it pursues a Central Bank Digital Currency (CBDC) with fears it could destabilise the economy or create a dystopian nightmare.

Central banks around the world are now exploring the evolution of fiat currency through CBDCs in response to the rise of cryptocurrencies and a growing reliance on digital forms of payment.

Dr Dimitrios Salampasis is a lecturer at the Swinburne University of Technology’s business school. He believes the concept of a CBDC could be damaging if it isn’t implemented carefully.

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Source: RBA must tread carefully with digital currency | Information Age | ACS