Central Banking

DLT will be a ‘catalyst for change’ – RBA’s Richards

rba-night
The Reserve Bank of Australia

The Reserve Bank of Australia’s head of payments says the emergence of distributed ledger technology has revealed inefficiencies within existing payment infrastructures.

Speaking in Sydney today (June 26), Tony Richards said DLT was likely to act as a “catalyst for change” in this regard, forcing central banks to examine whether current payment systems remain fit for purpose.

“Cryptocurrencies and distributed ledgers are fascinating developments, both from a payments and a broader economic

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