I was privileged to have been asked by ANZ to attend the AFR BOSS Innovation Awards dinner and extremely proud to be part of the team that resulted in ANZ being awarded the most innovative large organisation for their part in the May 2023 RBA CBDC pilot.
This pilot was targeted at applying digital currency for the real-time payment of employer contributions. It demonstrated many advantages over the current payment paradigm including:
- reconciling payment and data prior to sending to the superfund
- payment and data travel down the same path simultaneously
- guarantees the superfund can allocate contributions to its members
- elimination of counterparty risk