Bitcoin
$ 57,865
Ethereum
$ 2,071.1
Litecoin
$ 224.46
okex ads

Canada Eyes Digital Currency in its Research Project

The Bank of Canada, the country’s central bank, has been researching the possible issuance of digital currency, according to an internal presentation obtained by the Financial Post.

Join the fastest growing network on Telegram

The presentation was presented to Stephen Poloz, the governor of the Bank of Canada, as well as the central bank’s board of directors and was presented as a two-year research project as to whether the bank should issue its own digital currency. According to the presentation, a central bank-issued digital currency would offer “all the benefits” of central-banked backed assets and “all the convenience and security of wireless, electronic payments.”

“We need to innovate to stay in the game,” the presentation states, adding that “Cryptocurrencies may become a direct threat to our ability to implement monetary policy and lender of last resort (LOLR) role.”

The proposed digital currency could also help authorities collect more information, according to the presentation. “Personal details not shared with the payee, but could be shared with police or tax authorities,” the presentation reads.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Moderna and IBM to Jointly Explore Blockchain Technology for Vaccine Traceability
April 9, 2021By
Blockchain Association Hold Talks with Regulators Over Amenable Regulations
April 8, 2021By
ECB chief: Digital euro could take 4 years
April 8, 2021By

Advertisement

Video Posts

In
Tech Adoption For Small Business
April 6, 20210
In
OKEx Nigeria Exclusive Summit 2021
April 6, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin57,865 0.05 % 1.16 % 1.59 %
Ethereum2,071.1 0.11 % 1.96 % 5.11 %
Binance Coin419.39 0.33 % 4.43 % 24.88 %
Tether1.000 0.25 % 0.02 % 0.02 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.210 0.74 % 0.12 % 2.18 %
XRP1.020 0.34 % 4.16 % 77.96 %
Uniswap30.18 0.13 % 1.57 % 5.13 %
Litecoin224.46 0.34 % 0.80 % 10.71 %
Chainlink32.44 0.15 % 0.28 % 7.74 %