Reserve Bank of Australia Governor Lowe with some comments related to Bitcoin and others
- Says current fascination with cryptocurrencies a "speculative mania"
- Hard to see cryptocurrencies being commonly used for everyday payments
- Any form of electronic australian dollar would best be issued by the RBA
- Case for adding electronic form of Australian banknotes to payments mix has not been established
- Says few central bank peers see electronic banknotes on the horizon
- Says electronic banknotes could threaten financial stability, lead to bank runs
- Do not see case for rba offering every australian a bank account for making payments
- Says no case yet for issuing Australian dollars on blockchain for use with limited private systems
- Plausible that households, businesses will continue to hold bulk of money in commercial bank deposits
- History of private currency issuance is one of periodic panic and instability
Headlines via Reuters, and the full text is here: An eAUD?
I'm guessing these are not redeemable for BTC????
