Bank of Canada News

An analyst at the Bank of Canada has written a paper that identifies recurring patterns in CBDC models and how those patterns impact a list of performance criteria.

“In particular, Canadians who were young, male, employed, had a university degree, high household income and relatively low financial literacy were more likely to own Bitcoin.”

“We wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,” said Maryam Haghighi.

The bank will work alongside the MIT Media Labs’ Digital Currency Initiative (DCI) team to examine how “advanced technologies could affect the potential design of a CBDC.”

Canada is one of the first countries to approve a Bitcoin ETF and is the fourth-largest nation in terms of hash rate.

The Bank of Canada suggested that a Canadian CBDC could provide a number of innovations, including the elimination of transaction fees from debit and credit cards.

Amid the global CBDC race, the Canadian central bank does not currently see a strong case for issuing a state digital currency.

Crypto volatility is an emerging vulnerability to Canada’s financial system, while stablecoins pose risks for the country’s monetary system, the Bank of Canada said.

Following initial discussions with the Bank of Canada, four top universities have submitted design proposals for a central bank digital currency.

Timothy Lane says the central bank is developing a CBDC at "a good pace.”

Is risk in the eye of the beholder?

Those with less financial knowledge may be twice as likely to invest in crypto.

Experts from the Bank of Canada have released their thoughts on how a digital dollar should be available to all Canadians.

Representatives from several central banks in Europe and one in Canada spoke at Money20/20 today about why fiat is not particularly threatened by crypto.

Canada's Central Bank and Toronto Stock Exchange operator have reported positive results from piloting a blockchain-powered securities settlement platform.