The second is whether the RBA developing such a system would pass the public interest test. In terms of the issuing authority, our working hypothesis is that this would best be done by the central bank. In principle, there is nothing preventing tokenised eAUDs being issued by the private sector.
It is conceivable, for example, that eAUD tokens could be issued by banks or even by large nonbanks, although it is hard to see them being issued as cryptocurrency tokens under a bitcoinstyle protocol, with no central entity standing behind the liability.