On the blockchain wallet network MetaMUI, the Sovereign Yidindji Government (SYG) in northeastern Australia has issued a central bank digital currency (CBDC) and a digital ID system. SYG international affairs and trade minister Murrumu Walubara told Forkast that the SYG and the Australian government, including the prime minister, are currently discussing a formal treaty between the two countries.
To this time, the territory’s central bank has only issued the Sovereign Yidindji Dollar through the territory’s postage stamps. The approximately 100 SYG residents can use their new CBDC and digital ID to make purchases at local businesses and access official government services.
The SYG joins a growing list of governments and territories that have issued CBDCs, including the Bahamas and Nigeria, while China’s digital yuan will be included in the next Winter Olympics.
That’s all from Australia for now. It’s a wrap for this story.
