Brad Jones, assistant governor of the Reserve Bank of Australia, elaborated on the impact of CBDC on the Australian economy at the central bank conference. Since the release of the white paper on August 9, more than 80 financial entities have proposed use cases covering many areas such as e-commerce, offline and government payments. The team of the "eAUD" pilot project is studying which proposed use cases will be included in the pilot phase early next year and is expected to publish a report on the project around mid-2023.

In addition, Brad Jones also discussed the potential risks associated with CBDC, saying that "if CBDC becomes the preferred asset, banks may face liquidity problems"; he also pointed out that Australians prefer to keep their funds in "risk-free" CBDC, which may lead to bank runs and Australians will withdraw a large number of deposits. (Cointelegraph)