Reserve Bank of Australia is interested in Bitcoin

posted about 6 years ago
The initial hype caused by the arrival of Bitcoin and the blockchain has calmed down to reveal the stalwarts of the payments system remain: cash and cards are still the first thing people reach for when transacting in the real world and online.

In a recent interview, published by The Australian Financial Review, Michele Bullock, assistant governor of business services at the Reserve Bank of Australia, mentioned that Australian financial authorities are interested in Bitcoin and blockchain, but "it's tap and go" that's the new frontier and payments platforms enabling people to transact in real time.

"People got very excited about Bitcoin and while I do think the distributed ledger will lead to some interesting work, the real action is in the payment mechanisms in the cards," said Ms Bullock, who heads up the payments and transactions branch of the bank.

"We are interested in Bitcoin and we are watching it, as are many central banks around the world. But yet, it's not really grabbed the imagination of the general public."

"Tap and go" payments have made their presence felt in Australia in recent months with global technology giants such as Apple, Google and Samsung rolling out their tap and pay services across the country.
Tags: news, bitcoin