On 15/05/2023 6:39 pm, Stephen Loosley wrote:
Project Atom
A collaborative project undertaken in 2020–2021 between the Reserve
Bank, Commonwealth Bank of Australia, National Australia Bank,
Perpetual and ConsenSys, with additional input from King & Wood
Mallesons. The project involved the development of a proof of concept
for the issuance of a tokenised form of CBDC that could be used by
wholesale market participants for the funding, settlement and
repayment of a tokenised syndicated loan on an Ethereum-based DLT
platform.
I'm not clear what is meant by a "tokenised" form of CBDC, but that
aside, the point of my earlier post is that any CBDC must be solidly
founded on the national asset-base, which is a defining characteristic
of a central-bank currency.
Most or all privately created currencies have _no_ underlying asset base
AFAIK, and that's essentially the cause of the wild swings in value
shown by Bitcoin over recent years.
I see the Atom project favours Etherium. It also uses blockchain
technology, which I think still has scaling problems, but Etherium is at
least open-source.
The quote above states Atom was "/a proof of concept for the issuance of
a tokenised form of CBDC that could be used by wholesale market
participants for the funding, settlement and repayment of a tokenised
syndicated loan on an Ethereum-based DLT platform./" which seems to
imply the Reserve Bank / Wholesaler interface might define the point
where responsibility for financial responsibility transitions between
parties, as it evidently does now.
_David Lochrin_
_______________________________________________
Link mailing list
[email protected]
https://mailman.anu.edu.au/mailman/listinfo/link
