RBA CBDC Pilot Project

NotCentralised is making waves in the financial technology industry, as it becomes part of the pilot program for a Central Bank Digital Currency (CBDC) initiated by the Reserve Bank of Australia (RBA) and the Distributed Ledger Technology (DLT) Research Collaboration (DFCRC).

As part of this pilot, NotCentralised is utilising its own products, TradeFlows and Layer-C, to streamline payments and invoicing for construction work in an aged-care facility. The use of these products has increased efficiency, transparency, and trust in the payment process for this project.

NotCentralised is doing this project collaboratively alongside partners including Digital Mutual, Hedera, CANVAS and Zerocap in a show of force that highlights the capabilities of blockchain technology partners working together with those in the construction industry, to build better solutions that will help Australian companies with payment and supply chain issues.

Links below for more info:

• RBA media release — https://www.rba.gov.au/media-releases/2023/mr-23-06.html 

• List of DFCRC use cases — https://dfcrc.com.au/cbdc/cbdc-pilot-use-cases/

• Article in the AFR https://www.afr.com/companies/financial-services/rba-to-pilot-14-use-cases-for-a-digital-a-20230302-p5coss

• Chainsaw article https://thechainsaw.com/defi/rba-pilot-digital-australian-dollar-cbdc/

• Video on ausbiz (we featured in) —  https://www.ausbiz.com.au/media/the-use-cases-for-an-australian-cbdc?videoId=27508