$BTC
The Reserve Bank of New Zealand has killed its digital cash project
because the public wasn’t buying it
I literally burst out laughing
Damn
Guys
What on earth is going on now?
Another country has postponed its digital currency plans
Today, the Reserve Bank of New Zealand did something that shut down all the CBDC talk
On October 13
an RBNZ spokesperson officially announced
they were suspending all development work on the digital cash proposal
and shifting their focus to modernizing the payments system and real-time retail payment solutions
The CBDC project, originally planned to launch in 2030
has now been put on ice
But what really made me laugh was the consultation data they published themselves
The public consultation found that
65% of New Zealanders saw no benefit at all in digital cash
and said it was less safe than bank deposits or even stablecoins
More than 70% said digital cash was completely irrelevant to their lives
They’re worried about data privacy and cybersecurity
and afraid it could eventually replace physical cash
Think about that
Their central bank spent years working on a CBDC
then surveyed the public
and the public basically shot the idea down
Lately, quite a few countries have taken a more cautious stance on CBDCs
They’re no longer rushing to roll them out
The initial race to develop them is gradually giving way to careful evaluation
What the hell does that mean?
Anyway
it’s on hold for now
That doesn’t mean it’s been scrapped for good
It’ll have almost no impact on Bitcoin or Ethereum prices
It just means sentiment across the whole industry is cooling off
#新西兰央行暂停数字现金研发
The Reserve Bank of New Zealand has killed its digital cash project
because the public wasn’t buying it
I literally burst out laughing
Damn
Guys
What on earth is going on now?
Another country has postponed its digital currency plans
Today, the Reserve Bank of New Zealand did something that shut down all the CBDC talk
On October 13
an RBNZ spokesperson officially announced
they were suspending all development work on the digital cash proposal
and shifting their focus to modernizing the payments system and real-time retail payment solutions
The CBDC project, originally planned to launch in 2030
has now been put on ice
But what really made me laugh was the consultation data they published themselves
The public consultation found that
65% of New Zealanders saw no benefit at all in digital cash
and said it was less safe than bank deposits or even stablecoins
More than 70% said digital cash was completely irrelevant to their lives
They’re worried about data privacy and cybersecurity
and afraid it could eventually replace physical cash
Think about that
Their central bank spent years working on a CBDC
then surveyed the public
and the public basically shot the idea down
Lately, quite a few countries have taken a more cautious stance on CBDCs
They’re no longer rushing to roll them out
The initial race to develop them is gradually giving way to careful evaluation
What the hell does that mean?
Anyway
it’s on hold for now
That doesn’t mean it’s been scrapped for good
It’ll have almost no impact on Bitcoin or Ethereum prices
It just means sentiment across the whole industry is cooling off
#新西兰央行暂停数字现金研发