Reserve Bank of Australia Sees AUD 24 Billion Annual Gains From Tokenization
The Reserve Bank of Australia (Australia’s central bank) said asset and money tokenization could deliver about AUD 24 billion in yearly efficiency gains and shift the debate toward implementation.
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Terms & Concepts
Tokenization: The process of representing real-world assets or money on a blockchain as digital tokens.
Stablecoins: Cryptocurrencies designed to maintain a stable value, usually by being pegged to fiat currency.
Bank deposit tokens: Tokenized forms of commercial bank deposits that can be used in blockchain-based payment and settlement systems.