July 2025
From Reserve Bank on the future of account to account payments. What could replace it?
The Reserve Bank of Australia (RBA) and The Treasury welcome the release of a public consultation by Australian Payments Network and Australian Payments Plus on the future of the account-to-account payments system.
Formulating a clear vision for the account-to-account payments system that is consistent with public interest considerations is a foundational recommendation of the recent RBA Risk Assessment on the proposed decommissioning of the Bulk Electronic Clearing System.
RBA Assistant Governor (Financial System) Brad Jones said: “The account-to-account system supports consumers, businesses and government agencies in their everyday economic activities. It is a vital part of Australia’s financial infrastructure. This consultation provides a broad range of stakeholders the chance to provide input into how the system can be modernised to meet the opportunities and challenges of the future, in the public interest.”
To support the development of the vision, the RBA is publishing a paper outlining our public interest framework for the account-to-account payments system. Central to the success of the future system is its ability to provide all end users with access to payments options that are capable of meeting their needs, and that are cost-effective, reliable and safe. Achievement of these objectives will require effective industry governance arrangements, resilient infrastructure and competition and innovation among participants.
Background
Australian Payments Network (AusPayNet) is the self-regulatory body for the payments industry. It administers the framework for the Bulk Electronic Clearing System – Australia’s system for processing batch account-to-account payments, including payroll and welfare payments.
Australian Payments Plus (AP+) is the provider of Australia’s fast payment system – the New Payments Platform – as well as the BPAY billing service.
Submissions have closed.
The digitalisation of currency is merely the final stage of the Digital Revolution.
Everyone reading this digital article has already willingly subscribed to the digitalisation process. If you had not chosen to be a part of the digital world, you would not own a computer or Internet connection.
Everything from photos to books has already been digitised with no complaints, and you’ve already given your personal details away long ago, so why complain about the Digital Revolution’s concluding facet: the digitalisation of money?
Apple digitised devices.
Spotify digitised music.
Amazon digitised shopping.
Google digitised information.
Facebook digitised relationships.
Netflix digitised entertainment.
Strategy digitised wealth assets.
The digitalisation of capital is merely the final stage of the global digitalisation process. It is however, the last thing to be digitalised, because Central Bankers are against it due to digital currency being a threat to their ancient business model and practice.
Why?, – because anyone can issue their own digital currency, which needless to say, will dilute the economic power of the currency issuing Central Banks.
Earlier this year, Britain’s ex-PM Liz Truss, explained her experiences with the BoE as follows, – ‘Bitcoin is an antidote to the power of the Bank of England, . . . their huge resistance to it. This is why the economic elite hate Bitcoin.’ (Liz Truss, CheatCode Bitcoin Conference, Bedford, 11 April 2025).
Cyberspace is now governed by the two Cloudalist Empires of China and America. Both are in the finalising stages of establishing their territorial borders in cyberspace. Their fundamental difference in approach rests upon China’s adoption of the centralised financial structure (CeFi), whereas America prefers the decentralised structure (DeFi).
It goes without saying, that CBDC’s are a product of the centralised financial system. As CBDC’s and Stablecoins are pegged to the national currency, then guess what?, – CBDC’s and Stablecoins will devalue at the same rate as the underlying fiat currency. That’s something to remain aware of if choosing to store value in such assets.
As digital currencies are borderless, exempt from tariffs [unlike gold], and tradable 24/7 [no closed market issues], people around the world with faster devaluing currencies are going to use their local CBDC’s to buy America’s dollar-backed Stablecoins.
This selling of local CBDC’s, will of course, devalue the local currencies further, whilst simultaneously, strengthening the dollar. As more people exchange their weaker CBDC’s for the stronger U.S. Stablecoin, this will probably cause the latter to decouple from the former.
That is the plan, as clearly outlined by Washington’s ‘Crypto-Czar.’ David Sacks, and others: – ‘U.S. Stablecoins will extend the dollar’s international supremacy by creating trillions of dollars worth of new demand for U.S. Treasuries.’
‘This will support America’s debt and bring down long term interest rates. That’s what its about.’ (David Sacks, January 2025).
That is what its about, – and why not?
A people’s independent bank with currency based on precious metals side steps the CBDC bankers’ rort completely. They killed Gadhafi for trying that so sounds like it should work. The Government is the virus now and we all need immunity.
Elbow’s best mates to our north the Chinese, CCP Social Credit System has already been in place for years, full facial ID and penalties for having a low score. This is just the beginning. They won’t even have to tell you what you did, maybe you were fined for not wearing a seatbelt and you couldn’t pay because you had become homeless, then they just tell you hackers got into your account and they had to freeze it or some bullshit story. Before you know it you’ll be breaking into dumpsters.
Anyone who thinks that a CBDC is good is an idiot. CBDC will mean the end of financial privacy, and will allow banks/the Govt to block any transactions they don’t like, program your digital money so you can only spend it on ‘approved’ items, set a time limit so you must spend your money witihn a certain timeframe, and easily freeze your account at will. Say something the Govt don’t like on Social Media, or attend a freedom rally and you might find your account frozen. Get a fine, or accrue a tax debt the Tax Department claim you have, and the funds will be automatically deducted from your digital money. CBDC will be linked to a Govt Digital ID and carbon-based social credits system as piloted in Communist China for rollout to the rest of the world. “If you want a picture of the future, imagine a boot stamping on a human face—forever.” ― George Orwell, 1984.
The old fiat ponzi slavery scheme run by Central/Reserve days is coming to an end, no longer will they be able to print money, the cause of inflation and cost of living etc which they lend to government and charge interest on it, it should have been lent to them at ZERO interest and we shouldn’t be paying tax ALL everything.
In 2016 Australia along 200+ countries signed the Paris Accord to adopt a new International Monetary System (IMS).
Countries are migrating to their own sovereign asset backed currencies, as part of the Global Currency Reset (GCR) that is asset backed in the Quantum Financial System (QFS) as the old Ponzi Fiat system is being phased out and becomes obsolete, ALL banks must adopt and adapt to the new Global IMS to survive.
If Australia is going to continue to trade offshore, it has to comply fully with American NESARA and International GESARA and the QFS Quantum Financial System.
There will be at home currencies in all countries that will be able to match 1:1 in value of basics.
Most people will use Digital QFS Starlink connected blockchain secured transactions that will be instaneous, but coins and notes will still be in use too. This may alter in time as confidence grows in the security and absolute privacy of the blockchain system of transacting and the ‘above government’ level of privacy it contains.
We are all now involved in a transition that is out of our hands, and will satisfy everyone’s need for privacy in wages, transactions, savings, gifting, purchasing, loans, and will not be interfered with by governments, as taxes will almost disappear, and countries will run on GST collections only, on nonessential goods and services.
This is gradually unfolding as we speak, and will take time to fully iron out all the details in this wordwide transition from fiat currency/money created out of nothing of value to all currencies being backed by full value, gold, silver, precious metals, national assets, natural resources.
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