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New Zealand’s central bank, the Reserve Bank of New Zealand (RBNZ), has opened a consultation on central bank digital currencies (CBDCs). 

This is the second of four stages.

RBNZ considers that Stage Three will involve the development of prototypes and will be completed between 2028-2029.

Then, in around 2030, they ‘would introduce digital cash to Aotearoa New Zealand.’

The language the RBNZ uses, from the rhetoric around risk to the so-called benefits of CBDCs, mimics the language and concerns of the global banking, finance, and technology (Fintech) industry and management consultancy interests. 

There doesn’t seem to be a role for Parliament to debate whether or not New Zealand’s central bank should even enter the retail currency market...

To read more visit Zero Hedge.

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