The Reserve Bank of Australia (RBA) is expecting to push forward with its central bank digital currency (CBDC) pilot by mid-2023, according to a white paper published on Monday.   The purpose of the pilot is to “explore innovative use cases” that could be supported by the issuance of a CBDC, a media release said....Continue Reading

Australia cryptocurrency entrepreneur, Fred Schebesta, has stated that whilst the token mapping by the Australian government is “wonderful”, he warns it could lead to some detrimental effects on the space and wider economy.    You can read about the government’s prioritising of this token mapping in our article here.    Fred is the co-founder of...Continue Reading

Australian Liberal Politician Andrew Bragg wants to prepare Australia for a cryptocurrency bill the widespread use of China’s central bank digital currency (CBDC), the digital yuan.     On Monday, a draft of the digital assets Bill was introduced, being a Bill for an Act to provide for the regulation of activities relating to digital...Continue Reading

Ethereum 2.0, the second largest cryptocurrency by market capitalisation, has successfully finally moved to its proof-of-stake consensus mechanism.   In doing so it will reduce its energy consumption by a whopping 99.5% compared to its previous proof-of-work system.    Per TheVerge, the enormous pollution reduction comes from a change in how Ethereum users earn new...Continue Reading

A report from Arcane, published by CoinTelegraph, has indicated that While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining, a report has revealed the market’s potential to transform the energy industry.   Bitcoin Mining is said to be responsible for approximately 137 terawatt hours of energy consumption per year according...Continue Reading