Ian Woolford: Reserve Bank Director of Money and Cash on the possibility of a government-backed digital currency

The Reserve Bank's opened consultation on the possibility of a government-backed digital currency.   The central bank is currently researching such an option.   It would be used alongside physical cash.   Director of Money and Cash Ian Woolford told Mike Hosking their view is that there's not enough innovation and efficiency in the financial system.   He says they hope a central bank digital cash will spur this.  LISTEN ABOVE See omnystudio.com/listener for privacy information.