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BTC/USD $ 28183.6
ETH/USD $ 1814.92
LTC/USD $ 92.62
DASH/USD $ 62.36
DOGE/USD $ 0.07682
FIL/USD $ 5.85
ADA/USD $ 0.3692
USDT/USD $ 1.00
SHIB/USD $ 0.00001081
HOLO/USD $ 0.003762
BTT/USD $ 0.00000063
WINK/USD $ 0.0002199
YFI/USD $ 8660.06
PAXG/USD $ 1999.28
MKR/USD $ 678.04
BCH/USD $ 127.91
WBTC/USD $ 28240.0
COMP/USD $ 43.57
AAVE/USD $ 76.17
ZEC/USD $ 37.65
ICP/USD $ 5.14
TRB/USD $ 14.37
ETC/USD $ 20.66
NMR/USD $ 18.33
BAL/USD $ 7.02
LINK/USD $ 7.54
REP/USD $ 8.52
UNI/USD $ 6.19
ATOM/USD $ 11.66
UMA/USD $ 2.09
SNX/USD $ 2.67
SUSHI/USD $ 1.07
BAND/USD $ 1.71
EOS/USD $ 1.15
OMG/USD $ 1.75
RLC/USD $ 2.20
MIR/USD $ 0.09384
BNT/USD $ 0.5745
XTZ/USD $ 1.16
CGLD/USD $ 1.74
1INCH/USD $ 0.5140
CRV/USD $ 0.9638
KNC/USD $ 0.7195
ENJ/USD $ 0.3989
MATIC/USD $ 1.12
STORJ/USD $ 0.3643
ZRX/USD $ 0.2346
ALGO/USD $ 0.2163
GRT/USD $ 0.1522
OGN/USD $ 0.1156
CTSI/USD $ 0.1501
MANA/USD $ 0.6061
BAT/USD $ 0.2522
DAI/USD $ 0.9992
USDC/USD $ 0.9995
REN/USD $ 0.1087
XLM/USD $ 0.09193
NKN/USD $ 0.1080
OXT/USD $ 0.08811
LRC/USD $ 0.3600
SKL/USD $ 0.03930
CVC/USD $ 0.1083
SAND/USD $ 0.6550
NU/USD $ 0.1503
GNT/USD $ 0.00000001
DNT/USD $ 0.03150
ANKR/USD $ 0.03419
LOOM/USD $ 0.06933
AMP/USD $ 0.004110
MANY/USD $ 0.3545
WTK/USD $ 0.01433
POSI/USD $ 0.04987
WINR/USD $ 0.00003106
DEFT/USD $ 0.00002102
ISA/USD $ 0.0001072
RULER/USD $ 0.006737
SPORE/USD $ 0.9231
DEFLCT/USD $ 0.7379
HVE/USD $ 0.0005375
JCB/USD $ 0.00004910
FWC/USD $ 0.00000000008016
FDC/USD $ 0.00000021
YETI/USD $ 0.009937
SMR/USD $ 0.06063
Dimitar Dzhondzhorov 17 Mar, 2022 cryptopotato Views: 852
The central bank of Canada teamed up with MIT to conduct a twelve-month research project on CBDC.
Canada’s central bank collaborated with the Massachusetts Institute of Technology (MIT) to launch a twelve-month research project on central bank digital currency (CBDC). The study will inform the financial institution about the product’s potential merits and its possible implementation in the monetary network.
According to a recent announcement, the central bank of Canada joined a number of countries that are already actively exploring CBDCs. Specifically, it partnered with MIT on a one-year research project to explore how “advanced technologies could affect the potential design of a CBDC.”
The initiative is part of the bank’s broader development agenda on cryptocurrencies and fintech. The institution said the experiment will follow how CBDC interacts with the financial system. However, whether a CBDC will be introduced in Canada or this is just a research project with no follow-up remains unknown. The central bank informed it will provide further details on the outcome at the end of the experiment.
CBDC is the digital form of a country’s fiat currency. Unlike the decentralized nature of private digital assets, it is totally controlled by the authorities. As such, it is no wonder that numerous politicians have argued that the financial product will be a better option than crypto.
Such is the case with the IMF’s Managing Director – Kristalina Georgieva. Last month, she suggested that a “prudently” designed CBDC could be “safer” than bitcoin and the altcoins, which are “unbacked” and “inherently volatile.”
India’s PM – Narendra Modi – is also keen on the product. In his view, it could strengthen the digital economy in the years to come and revolutionize the fintech sector.
Canada is not the only nation to conduct such a trial on a CBDC. Not long ago, the Central Bank of Kenya (CBK) released a discussion paper to examine what the general public thinks on the matter. Locals are able to analyze both the pluses and minuses that such a product can lead to.
At the end of 2021, the Bank of Korea also carried out the first stage of its two-part mock testing of its CBDC. Earlier this year, the institution announced that the project is now in its second phase. The central bank teamed up with local monetary organizations to examine the actual launch of the product.
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