Bank of Canada Researcher: Bitcoin Monetary Standard Would Fail
A research consultant for Canada's central bank has published a new research paper that envisions a world that has established a monetary standard based on bitcoin. The outcome, speculates author Warren Weber, would be a mix of good and bad in terms of impact on monetary policy. Weber writes: “A bitcoin standard would have two major benefits over current fiat money standards. One is that there would be greater price-level predictability due to the known, deterministic rate at which new bitcoins are created. A second is that the resources currently devoted to hedging against fluctuations in....
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How would a bitcoin standard fare for a monetary system? An analysis by the Bank of Canada examined that scenario, conjecturing how a bitcoin standard would perform based on the performance of a gold standard that existed from 1880 to 1913. The gold standard was a monetary system in which nations’ currencies were tied to gold. The 37-page paper [PDF] is written by Warren E. Weber, research consultant at the Bank of Canada, visiting scholar for the Federal Reserve Bank of Atlanta, and adjunct professor at the University of South Carolina. The paper claims that because....
Carolyn Wilkins, senior deputy governor of the Bank of Canada recently warned banks about the effect that cryptocurrencies like Bitcoin can bring to the monetary policy. According to the speech “Innovation, Central-Bank Style” Canada’s banks should manage the risks and benefits that could arise from the broader adoption of e-money. According to Carolyn Wilkins: The senior deputy governor of the Bank of Canada stated that according to the corporate plan the bank will explore modern financial and technology trends over the course of three years. The bank will focus on studies of modern....
The Bank of Canada (BoC), Canadian ministers and the Crown (England) face prosecution for crashing the Canadian economy. The Committee on Monetary and Economic Reform (COMER) has been accusing the mentioned institutions and individuals. COMER has put forward that the attorney general, the finance minister, and minister of national revenue have purposefully colluding with the International Monetary Fund (IMF), the Financial Stability Board (FSB) and the Bank for International Settlements (BIS) to rob the Country of Canada. According to an article in the Epoch Times: The suit alleges that....
Standard Chartered Bank has become the latest major bank to enter the metaverse. The bank has acquired “virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by Hong Kong talents.”
Standard Chartered Bank Forays Into the Metaverse
Standard Chartered Bank announced Tuesday that its subsidiary, Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), has partnered with The Sandbox, a popular blockchain virtual gaming platform, “to create [a] metaverse experience.”
Standard Chartered is a leading global....
Ethereum has struggled alongside Bitcoin through the current bear market climate but this has not stopped bullish predictions for the digital asset. The most recent bullish prediction comes from British multinational bank Standard Chartered which believes that the Ethereum price could climb higher than $8,000. Factors That Could Trigger The Rise Geoff Kendrick, Head of Digital Assets Research at Standard Chartered Bank has revealed his forecast for the Ethereum price in a research note. According to the researcher, he sees big things in the future of the digital asset which could climb....