Australia: Cryptocurrency unlikely for retail payments, Facebook or not

Australia: Cryptocurrency unlikely for retail payments, Facebook or not
ôîòî ïîêàçàíî ñ : thenextweb.com

2019-6-20 12:38

The world is still processing the specifics of Facebook‘s Libra digital currency, but even the Reserve Bank of Australia (RBA) has realized it’s set to rub cryptocurrency purists the wrong way.

In a whopping 5,800-word paper published earlier today, four RBA analysts argued there’s “little likelihood of a material take-up of cryptocurrencies for retail payments in Australia in the foreseeable future,” reports the Sydney Morning Herald via AAP. To the RBA, cryptocurrencies suffer from a “scalability trilemma,” a trade-off that inevitably sees a digital asset fail in one of three areas: scalability, security, or decentralization. “As long as the Australian dollar continues…

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Bitcoin Unlikely to Take Off in Australia, An RBA Official Suggests

Dr. Tony Richards, head of payments policy at the Reserve Bank of Australia, said that the stability of the Australian dollar would make widespread Bitcoin adoption in the country unlikely. He also suggested that the local use of the currency is so limited that the central bank does not consider it a major impact on […] Bitcoin Unlikely to Take Off in Australia, An RBA Official Suggests was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-6-27 22:23


Ôîòî:

No Cryptos Planned for Issue by Central Banks in Australia and New Zealand

The central banks of Australia and New Zealand denied they would issue their own cryptocurrencies June 26, in a speech calling Bitcoin “fascinating” but “inefficient.” Addressing the Australian Business Economists in Sydney, Tony Richards, head of the Reserve Bank of Australia’s (RBA) payments policy, appeared hawkish on cryptocurrency as Australia’s government devotes considerable funds to

2018-6-26 17:07


Ôîòî:

The Central Banks Of Australia And New Zealand Against Cryptocurrencies

The trend of ‘central banks’ talking about cryptocurrencies is warming up once more, with The Reserve Bank of Australia (RBA) and The Reserve Bank of New Zealand (RBNZ) weighing in on the debate. The pair have moved to debunk rumours that they are investigating in establishing their own central bank digital currency, on the basis that they believe such a project would inevitably damage their current banking system.

2018-6-26 17:00


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