WELLINGTON, Feb 8 (Reuters) - The Reserve Bank of New Zealand (RBNZ) is starting design work on a Central Bank Digital Currency (CBDC) after taking into account the public’s feedback, Governor Adrian Orr said in a speech on Tuesday.
Orr said the RBNZ is commencing CBDC proof-of-concept design work. The work will be a multi-stage and multi-year effort, and no decision has yet been made on what form of CBDC was right for New Zealand, he added.
“The technology exists now to implement a CBDC, but it needs to be well designed,” Orr said. (([email protected]; +6448028163; Reuters Messaging: [email protected]; Twitter: https://twitter.com/Journopraveen))
