A central bank digital dollar could slice costs for small business, including claiming GST and making SuperStream payments. But this will require law reform.
The two major banks are among 14 organisations which have been invited to participate in the central bank digital currency pilot by the RBA and DFCRC. The Reserve Bank (RBA) and the Digital Finance Co
ANZ, CBA and Mastercard will join several fintechs to develop central bank digital currency applications for Australia that will involve real claims on the central bank.