RBA’s digital dollar to work ‘exactly’ like Australian money

The Reserve Bank of Australia’s new digital dollar will work “exactly” like Australian money, according to CBA’s Managing Director of Blockchain and Digital Assets Sophie Gilder.

“You can think of it as exactly the dollar that you know today but it’s in a different form factor,” she told Sky News Business Editor Ross Greenwood.

“A different technological format, which means that it can do things that the dollars we have today can not do.”

[ginaspeciale]

Just wait til you go over you allotted carbon credits. No more access to your $$.

[stevebadley]

The difference is they will control everything you do with this version of the dollar, she forgot to mention that part

[DissidentOzz]

Great!
Try to by more than your weekly ration of steak or lamb chops and the transaction will be blocked

[IcanBePsycho]

With a digital currency, they can block you from accessing your own money.
Luckily the protesting Canadian truck drivers still had cash.
Trudeau blocked the truckers from accessing their own money & it would’ve been a lot easier for Trudeau to do it, if it was all in digital currency.

[womp]

The only important difference is that the digital currency is completely traceable. The government will know every single transaction, in fact it’s unerasable because it’s stored in the blockchain. You won’t be able to give your children pocket money without the government knowing

[Noname-hslx]

Screw that …. No thank you. I don’t want a chip or barcode either

[scottlandbased]

With Australia's useless internet i can see this will work great within 1km of the nearest city.

[AdoptedAussie]

No thank you. No conditions placed on my money. Cash only.

[Wide_Awake]

Hunter's defence attorney has suddenly quit. Probably realised that justice is finally on its way for the Bidumb crime family

[SD._]

Difference is that it is programmable and has expiry date. Meaning you no longer will be able to save on a rainy day.

Klaus Schwab approved.

[Undies]

But fully controlled, where you can use it. It will be all part of monitoring your carbon usage. They will know where ever dollar has been spent. Your card won't work if you have gone to far used to much fuel, or you aren't in your 15min city area. They can simple switch you off.

[tearsinthesun]

No no no no the end of democracy and freedom is coming 😢

[Cobber]

Cash is King I’ll never buy digital money so hackers can rob me with the press of a button 🤣🤣🤣🤦🏻‍♂️

[joechiato]

I always Support my local small businesses by paying cash

[renatosureal]

No, it WON'T !!! Money now may come with expiration date, what you can / cannot buy with it, etc. And people are ... celebrating. Pitiful !

[advanceaustralia]

Sorry sir your card was declined due to your social credit score.

[GhostRangerr]

That's probably the most "Orwellian" thing I've seen so far. Don't walk into this trap!

[sim]

Soo, what's it backed by... 🤔ohh, ok click a mouse 🤬

[davidwright]

Watch the crime go through the roof now. FFS

[darrenstewart]

They will also be able to track everything you spend your currency on and therefore invade your basic rights of privacy. They will also later on incorporate carbon credits and so be able to restrict your fuel usage if you use a smelly diesel vehicle etc. Your bank account will be directly with the RBA and therefore remove another layer of privacy.