The Reserve Bank of NZ is still investigating the possibility of issuing NZ dollars in a digital form. In order to allay the fears that this would replace physical cash - which has never been part discussed as part of the plan - they're now using the phrase "digital cash";

"We're looking at the possibility of issuing digital cash. It would be an electronic version of cash, issued by us, but it would not replace cash."

https://www.rbnz.govt.nz/money-and-cash/future-of-money/digital-cash

#DigitalCash #CBDC #ReserveBankNZ #RBNZ

Digital cash

We're looking at the possibility of issuing digital cash. It would be an electronic version of cash, issued by us, but it would not replace cash.

In late 2021, the Reserve Bank, NZ's central bank, held a consultation on the possibility of creating an electronic cash system or CBDC (Central Bank Digital Currency), to facilitate cash-like digital payments:

https://www.rbnz.govt.nz/have-your-say/2021/future-of-money-central-bank-digital-currency

... and in Feb, 2022, they announced work on a proof-of-concept and another round of consultation:

https://www.rbnz.govt.nz/hub/news/2022/02/innovation-key-to-the-future-of-money-and-cash

#Aotearoa #NZ #money #cash #CBDC #ReserveBankNZ