New Zealand's Reserve Bank consulting public on a potential CBDC

[Casual]

The Reserve Bank of New Zealand will look at the potential for a CBDC “to work alongside cash as government-backed money,” and assess the issues around the emergence of crypto assets such as stablecoins. In a July 7 announcement, the Reserve Bank revealed it will be releasing a set of “money and cash issues papers for feedback from August to November,” which build upon the “Future of Cash” consultations from 2019.

The bank will “introduce and seek feedback” on crypto-focused papers that will look at the potential for a CBDC “to work alongside cash as government-backed money,” along with unspecified issues that arise from innovations in money and payment tech, including cryptocurrencies such as Bitcoin and stablecoins.

NZ's Reserve Bank appears to be open-minded towards the deployment of a CBDC, but it has emphasized that a measured and cautious approach is required.

Assistant Governor Christian Hawkesby said in October 2020 that the bank had “no imminent plans” to deploy a CBDC, noting that “to issue currency that meets the needs of the public, we must take a new and holistic approach. We acknowledge there is much work to be done.”source

[TomPluz]

Central banks of notable countries especially those who are already have developed economies are aware of the CBDC trend all because China is powerfully pushing it on its own territory and people...and nobody wants to be left out in case this will be the new standard in terms of money and finance. And in my analysis there is not stopping on this now...sooner or later central banks of all countries have to face the decision whether they are gonna be a part of the new era of digital money or be thrown to the past era of fiat or paper money.