20 Jun 2019

Facebook and the new monetary revolution

From Nine To Noon, 9:09 am on 20 June 2019
The Reserve Bank of New Zealand

The Reserve Bank of New Zealand Photo: RNZ / Alexander Robertson

Christian Hawkesby the Assistant Governor of the Reserve Bank talks to Kathryn Ryan about the rise of new currencies and The Reserve Bank's warnings about what a wallet-less economy could mean for disadvantaged New Zealanders.

In the single biggest shake up to date, Facebook has announced Libra - the world's first private international reserve currency. Meanwhile, in a just released paper on the future of cash The Reserve Bank is warning that if cash becomes less accepted then Kiwis that are already "left out" of the banking or digital worlds may be "severely disadvantaged".