Retail central bank digital currency: has its time come?
As central banks around the world prepare to launch central bank digital currencies (CBDCs), this paper looks at issues surrounding a retail version of CBDCs that would complement notes and coins for consumers.
Mobile payment and digital wallet financial services
This inquiry report provides an overview of the payments ecosystem, outlining both old and new payment systems. It also provides an overview of the technologies that enable digital wallets and mobile payments, and details of the major platforms and services offered in Australia.
Canada and the digitalization of money
This report shares key takeaways from a workshop held in August with international and Canadian experts to develop advice for policy makers, regulators and market participants on how to advance the digitalization of money with a view to serving the interests of the users of...
Select Committee on Australia as a Technology and Financial Centre: final report
The committee's final report makes 12 recommendations in relation to the regulation of digital assets in Australia, 'de-banking' practices affecting Australian FinTechs and other businesses, and several other issues relating to Australia's position as a technology and financial centre, to drive opportunities for innovative businesses...
Designing and regulating retail digital currencies
Governments and multinational organisations around the world have begun exploring the feasibility of developing retail digital currencies for domestic and global payments. This policy brief does not address bitcoin or other privately issued digital currencies that are not backed by assets having intrinsic value.
Central bank digital currency and governance: fit for purpose?
Central banks are turning their attention toward central bank digital currency (CBDC) to replace coins and bills and to provide other types of services through digital technology. This paper explores the forces that will affect the implementation of a CBDC.
China’s digital currency
This report explains China’s domestic and international ambitions in developing a central bank digital currency (CBDC), reviews the main technical framework of Digital Currency/Electronic Payment (DCEP) and discusses how the People’s Bank of China (PBOC) and private firms are working to implement it. The report...
Central bank digital currency, design choices, and impacts on currency internationalization
This briefing argues that there is a solid use case for central bank digital currency (CBDC) that justifies the intense interest across multiple jurisdictions. At the same time, establishing the architecture, infrastructure and rules for access to CBDC will entail design choices that are not...
How and why vendors sell on cryptomarkets
Cryptomarkets represent a growing component of the illicit drugs trade. Australia is over-represented in the proportion of online vendors who use these platforms to reach drug consumers. This study found that vendors perceive less risk of police intervention when selling drugs online, and that the...
The flipside of China’s central bank digital currency
China’s central bank digital currency, known as ‘DC/EP’ (digital currency/electronic payment), is rapidly progressing and, if successful, will have major international implications that have not yet been widely considered by policymakers.
Design choices for central bank digital currency: policy and technical considerations
This paper investigates and explains the design choices, mainly technical, but also financial and legal, that central banks will unavoidably encounter in their exploration of central bank digital currencies (CBDCs). Contributing authors include experts in computer science, economics and law, whose research and practical experience...
Digital wallets: impact, implications and issues
This report covers findings from Stage 3 of a co-funded Swinburne University/460degrees research project into the social and psychological enablers and barriers to digital wallet usage which ran from August 2019 to April 2020. Findings suggest a tension between convenience and concern that affects perceptions...
Not cashless, but less cash: economic justice and the future of UK payments
This report argues that shaping the transition to an increasingly digital economy to deliver economic justice will require continued access to cash, alongside improved access to digital financial services that work for everyone.
Backing Australian Fin-Tech
Financial technology, or FinTech, is transforming our financial system and potentially our entire economy and it’s not just about digitising transactions. Just as the internet has empowered people around the globe through access to information, financial technology is reducing information asymmetry in the marketplace and...
E‐MONEY KNOWLEDGE PRODUCT: Trust law protections for e‐money customers
At the request of the Alliance for Financial Inclusion’s Pacific Islands Working Group (PIWG), the Pacific Financial Inclusion Programme (PFIP)3 contracted Jonathan Greenacre, a consultant, to analyse the trust arrangements used by e-money issuers in the following Pacific countries: Fiji, Papua New Guinea, Samoa, Tonga...