21 March 2022
The man with his signature on every Australian bank note, Reserve Bank governor Philip Lowe, has indicated that digital tokens are just on the horizon.
In a speech to G20 central bankers, Dr Lowe has given his clearest hint yet that the progression of money is happening right before us, and people will need to switch their leather purses and wallets on to their smart phones.
Governor Lowe said that we can’t be sure what the next innovation in money will be, but there’s a fair chance it will be a form of digital token that sits in a digital wallet or a digital device.
A digital currency would be a welcome addition to the financial landscape and backed by the RBA.
The RBA has been closely monitoring the moves of other central banks such as China, Uruguay and the Bahamas along with a recent report published by the International Monetary Fund which delves into the advantages and disadvantages of adopting a central bank digital currency.
It’s clear that the world of commerce is ready to adopt a widely used reliable digital currency platform, and Qoin has created this opportunity built on a secure, scalable, and reliable blockchain.