A Tool of Control
There's a welcome respite from the threat of a Central Bank Digital Currency. While there is still time to protect privacy and freedom, it remains to be seen if the general public knows or cares.
There is a glimmer of light at the end of the tunnel.
The Reserve Bank's (RBA) trial of a central bank digital currency (CBDC) hasn't delivered a blanket endorsement of this tool of government control.
That doesn't mean it isn't coming, but it gives us more time to fight against its introduction.
The five-month trial of the eAUD warns that "more research is required to deal with legal, regulatory, technical and operational issues to ensure any eAUD operates safely."
It concluded that "any decision on a CBDC in Australia will likely be some years away."
That's the good news.