CandleFocus New Zealand’s CBDC consultation results show limited public enthusiasm
2024-12-10
Author: Content Editor
New Zealanders have shown little enthusiasm for a central bank digital currency (CBDC), according to feedback from the Reserve Bank of New Zealand's (RBNZ) public consultation. Over 70% of respondents felt that a CBDC, which the RBNZ calls "digital cash," was not important. Concerns were raised over security, privacy, and the necessity of a CBDC, with 90% of respondents worried about potential government control. Respondents displayed little concern about the impact of cryptocurrencies like Bitcoin and Ethereum on the New Zealand dollar, with some even viewing them as advantageous. The RBNZ plans to focus its research on privacy and autonomy to address these concerns.
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