Research project exploring use cases for CBDC

David Lavecky, CEO and Co-Founder of CANVAS said, “The eAUD Pilot program is a critical development for Digital Finance in Australia.”

“CBDCs such as eAUD are fundamental building blocks of a Digital Economy and enable instant, secure and low cost transactions,” said David Lavecky.

CANVAS said it was pleased to participate in the eAUD pilot project and demonstrate the benefits of using a CBDC in the context of Tokenised Foreign Exchange transactions.

“The potential markets for CBDCs in Foreign exchange trading and international remittances are significant,” he said. “The use of eAUD and Digital Currencies in FX trading & International Remittances enables frictionless, 24x7x365 trading and global movement of foreign currencies, dramatically increasing speed, reducing risks and lowering costs over traditional Traditional Foreign Exchange (FX) Trading & Remittance networks,” said Lavecky.

“We believe blockchain, smart contracts, and Digital Securities, will radically transform finance and markets over the next decade,” he said.

“There is no suggestion that the eAUD or other CBDC’s will replace cash now or in the future but the consideration of digital currencies is exciting for the entire sector. 

“CANVAS was created in the belief that Blockchain technologies, Digital Assets, & Tokenisation will radically transform financial and capital markets over the next decade with trillions of $ in securities and currencies to be tokenized and traded 24/7/365 in a globally connected digital economy,” he said.