Digi.cash is 25 years of innovation
Unlike other digital money products, digi.cash is electronically minted digital coins and notes that you hold yourself, rather than an interface to an account balance being held elsewhere.
Digi.cash is based on cryptographic protocols developed by digital cash inventor David Chaum, with the technology being developed since the 1990s.
The technology’s implementations in the 1990s are now referred to as the first cryptocurrencies, and were an important stepping stone in the move to the digital money era.
The nature of the way coins are designed in digi.cash allows for cash-like transactions, using so-called blind signatures, where secure payments can be made without the payer being identified in the process.
The nature of the digi.cash note or coin facilitated the development of digital bearer instruments, the tokenisation of assets using a centralised register to prevent their double spending.
Blockchain technology has added an advanced toolset to developments in tokenisation of assets, through the use of decentralised registers and transaction processing.
The digi.cash product today is an ongoing R&D and productisation effort, aimed at providing the best possible technology solutions for centrally issued currencies, in particular national currencies (fiat money). It does that by combining technology and properties of Blockchain, other tokenisation, and digital bearer instruments technology.
Digi.cash in its current production implementation is a peer-to-peer payments system for smart phones. Money can be transferred securely between parties using a number of channels, including messaging, e-mail, and QR-codes – at no fees. Transfers between digi.cash held and bank accounts are also available at no charge.
Digital Finance Cooperative Research Centre (DFCRC)
Digital Finance refers to the 'digitisation' of assets, being representation of assets themselves, or the ownership title to assets, as cryptographically secured 'tokens'.
The Digital Finance CRC (DFCRC) is a collaborative research centre, founded in 2021, and is the recipient of a Federal government grant of $60m, matching funding and in-kind contributions from industry and academic partners over 10 years.
The Digital Finance CRC (DFCRC) brings together a unique group of stakeholders in fintech, industry, research, and regulation to develop and capitalise on the huge commercial opportunities arising from the next transformation of the financial markets – the universal digitisation of all assets so they can be traded and exchanged directly and in real-time between any individual or organisation.
digi.cash started as an R&D effort by the Capital Markets CRC, and has now been taken over by DFCRC for future development.
Capital Markets Cooperative Research Centre (CMCRC)
digi.cash was founded by the Capital Markets Co-operative Research Centre (CMCRC), and launched in 2016, as part of its research in the digital asset space.
The CMCRC, in conjunction with more than 60 industry and research partners, developed the system that allows it to issue and circulate many digital currencies, securely and with very fast processing times. It pioneered the concept of digital bearer instruments – and tokenisation
The technology developed in digi.cash also spawned another venture in the area of digitising assets, INFINIGOLD, (now Trovio). Infinigold launched a digital token, The Perth Mint Gold Token, backed by gold stored in the vaults of Australia’s Perth Mint, a world-leading precious metal refinery.