Category Archive: bank of canada

Bank of England Blockchain: how to explore fintech

bank_of_england_blockchain
A few days ago it was revealed that Bank of England Blockchain project is looking for more ways to study the distributed ledger.
During a speech in London, Victoria Cleland of Bank of England explained that the central bank is exploring the financial technology, creating a startup accelerator to help financial projects.
Cleland commented:
“Blockchain is still in its infancy, and there are numerous questions that need exploring. The Bank has already undertaken a proof-of-concept using this technology and we are looking for new opportunities through our FinTech accelerator.”
Earlier this year, Bank of England revelaed its project to create a new digital currency, to be called RScoin, projected by the University College of London.
A similar idea was developed by the Bank of Canada, who aims at creating a new cryptocurrency called CadCoin, as well as the Dutch Central Bank that planned to develop a new blockchain called “DNBCoin”.

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Central Bank of Canada revealed the digital Cad coin

<img src="/images/cadcoin.jpg" alt="Cad coin" height="264" width="350" />

Is Cad Coin the future for Canada?

Yesterday the Central Bank of Canada announced its new project: Cad coin, or the digital version of the Canadian dollar based on the blockchain.
Cad coin is just a part of a greater study about the blockchain, called “Project Jasper”, according to The Financial Times
Bank of Canada is not the only bank involved: in fact, other important banks such as Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank and TD Bank are participating to this innovative project.
As you can read on a Forbes post, Bank of Canada is doing tests on a system that allows people to give their cash to the bank that will convert it into Cad coin.

Banks: in love with the Blockchain?

During the last months, we read about several bank projects related to the blockchain and digital currencies.
“The development of modern financial markets is inseparable from the development of financial technology”, said Bank of Russia’s deputy chairman Olga Skorobogatova
Are these news the proof that banks love blockchain applications or is it just fear?

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