Some central banks are active in planning ideas to create their own digital currency. However, in this country precisely starup companies who propose the making of national digital currency. Surprisingly indeed. Australia is a country that seeks to do so. Where the dollar is digitally quite reasonable for the Australian fintech sector.
The public expects the central bank to unveil plans for the creation of a national digital currency. As has been done by developed countries, digital currency proposals have emerged in the United States, Britain, and Russia. However, Australia is a very different place, where the proposal was not made by the Reserve Bank of Australia or the central bank, but rather by local startup fintech instead.
Australia will benefit from the national digital currency, but it is doubtful if the future will be willing to take the policy. The fintech startup that compiled this proposal has introduced some interesting arguments to support their digital dollars. Several different use cases were presented as well, as would be a competitor for Bitcoin and Ethereum.
In addition, Australia is one of the places where Blockchain technology really develops. This startup feels the need to use decentralized technology to create a centrally-centric form of money, although it’s worth looking at this proposal incorporating Blockchain technology. As we know, they can propose the use of SQL databases that may change as well.
Although this proposal has been formally presented, it remains to be seen if the Reserve Bank of Australia (RBA) will decide to make it happen. This fintech starup argues that the national digital currency can build the trust and common use of cryptocurrencies as well, although they want their products to be directly competing like Bitcoin. Similar events also experienced by Japan, digital currency slowly began to get support by the central bank. J-coin the name of the digital currency.