Reserve Bank considers the digital dollar: 'NZ's money must innovate to stay relevant '
Reserve Bank considers the digital dollar: 'NZ's money must innovate to stay relevant '
New Zealand could be using a government-backed digital currency by the end of the decade.
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All I want is an Instant Payment system for instant bank transfers. Multiple countries have managed to do it already.
Or just copy Australia's homework
Ours is down to a couple of hours for inter-bank transfers, 365 days a year. We've made a lot of progress in the last decade.
A decade is a long time.. we only got 365 days a year banking less than a year ago didn't we? I guess our market is so small nobody really cares to improve things and kiwis don't like to make a fuss to get things more modernised.
Correct, small steps but it's improving! Perhaps the digital dollar is the next step.
So a digital dollar in 2033, instant transfers by 2043 :P
If we get a digital dollar before instant transfers, I'm going to be annoyed!
Haha we probably will! But the digital dollar will be instant, if that's any small consolation.