NZ digital currency idea raises big privacy and security questions

(Image: Getty)

Thu, 25 Apr 2024

The Reserve Bank of New Zealand is slowly progressing its work on developing an electronic version of cash, known worldwide as a central bank digital currency.Last week, the Reserve Bank of NZ (RBNZ) started consultation on phase two of its work on a central bank digital currency (CBDC), which will involve it “exploring high-level design options for digital cash and asking for your feedback on the proposed design features”.Stage 3 moves to prototyping for a CBDC, expected to be around 2028 to 2029, with stage 4 involving the launch...

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