14 Dec Project Atom – Exploring a Wholesale CBDC for Syndicated Lending

Source: Reserve Bank of Australia 2021

Research into the use of distributed ledger technology (DLT) and digital financial assets is advancing rapidly.

The use of DLT and smart contracts has the potential to deliver benefits in the form of greater efficiency, transparency, liquidity and accessibility in asset markets, as well as enable the issuance of new forms of money, such as central bank digital currency (CBDC). Project Atom was a collaborative research project undertaken in 2020–21 between the Reserve Bank of Australia (RBA), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Perpetual and ConsenSys, with additional input from King & Wood Mallesons (KWM). The project involved the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC – a digital form of money that is a direct claim on the central bank – that could be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform.

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