The Bank Of Canada Is Siding With Bitcoin
The Bank of Canada may be starting an initiative that will look into changing their monetary policies. The central bank’s second in command Carolyn Wilkins had some encouraging words to say about Bitcoin. It’s possible they are tired of the results of quantitative easing and manipulated interest rates so they have begun looking into alternative tools that may stave off the financial crisis and a stagnate economy ahead. Canada has always been an innovator when it comes to technology. Wilkins said, “Canada has a history of being a monetary-policy innovator.” and the financial sectors in the....
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The Central Bank of Canada revealed yesterday it is developing a digital version of the Canadian dollar based on blockchain technology. Called CAD-coin, the project is part of a wider exploration of the emerging technology codenamed Project Jasper that was reportedly unveiled during a private presentation, according to The Financial Times. Other major banks including Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank and TD Bank, as well as banking consortium startup R3CEV, are said to be involved in the effort. A slide posted by Forbes provides more details, indicating that the Bank....
The Bank of Canada has come out with a very bold statement, stating that Bitcoin adopted could destabilize global finance. Bank of Canada extends even further than that, including all other digital currencies in spectrum, such as Facebook credits, Amazon coins, and World of Warcraft gold just to name a few. Bank of Canada wasn’t all hate however, acknowledging the potential benefits of faster transaction times, less fees, etc. they do feel that in Bitcoins current stance, Bitcoin entering the mainstream would be a dangerous move. This hasn’t stop Canadian Bitcoin enthusiasts, with their....
Building an anonymous central bank digital currency (CBDC) presents security risks – not only to the issuer but to the users themselves, says the Bank of Canada.
Bank of Canada is seriously looking into blockchain technology. At the same time, the Canadian payment ecosystem is expected to see some changes in the coming months. Speaking of alternative currency and technology associated with it, the bank of Canada is looking into the use of blockchain technology seriously. The new came out recently after the Senior Deputy Governor of the Bank of Canada, Carolyn Wilkins mentioned that the central bank will be making use of the distributed ledger technology to test interbank payments. During the same session, Wilkins also made it clear that the country....