{"id":985,"date":"2016-06-22T13:09:49","date_gmt":"2016-06-22T13:09:49","guid":{"rendered":"http:\/\/blog.holytransaction.com\/?p=985"},"modified":"2022-03-07T19:28:31","modified_gmt":"2022-03-07T17:28:31","slug":"central-bank-of-canada-revealed-the-digital","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/06\/central-bank-of-canada-revealed-the-digital.html","title":{"rendered":"Central Bank of Canada revealed the digital Cad coin"},"content":{"rendered":"<h3 style=\"text-align: justify;\">Is Cad Coin the future for Canada?<\/h3>\n<div style=\"text-align: justify;\">Yesterday the <b>Central Bank of Canada<\/b> announced its new project: <b>Cad coin<\/b>, or the digital version of the Canadian dollar based on the blockchain.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Cad coin is just a part of a greater study about the blockchain, called <i><b>\u201cProject Jasper\u201d<\/b><\/i>, according to <a href=\"https:\/\/www.ft.com\/intl\/cms\/s\/0\/1117c780-3397-11e6-bda0-04585c31b153.html#axzz4Bk8JvZsk\">The Financial Times<\/a>.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Bank of Canada is not the only bank involved: in fact, other important banks such as <b>Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank and TD Bank<\/b> are participating to this innovative project.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">As you can read on a <a href=\"https:\/\/www.forbes.com\/sites\/laurashin\/2016\/06\/16\/canada-has-been-experimenting-with-a-digital-fiat-currency-called-cad-coin\/#2cd8bd441b0c\">Forbes<\/a> 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.<\/div>\n<h3 style=\"text-align: justify;\">Banks: in love with the Blockchain?<\/h3>\n<div style=\"text-align: justify;\">During the last months, we read about several bank projects related to the blockchain and digital currencies.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">For example, in March, <a href=\"https:\/\/holytransaction.com\/blog\/2016\/03\/bank-of-england-will-create-its-own.html\">Bank of England announced the decision to create its cryptocurrency called RS Coin, as you can read here.<\/a><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">A similar news came in February, when <a href=\"https:\/\/holytransaction.com\/blog\/2016\/02\/the-bank-of-russia-is-working-on.html\">Bank of Russia revealed to study the blockchain for their own business applications<\/a>.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><i>&#8220;The development of modern financial markets is inseparable from the development of financial technology\u201d<\/i>, said Bank of Russia&#8217;s deputy chairman <b>Olga Skorobogatova<\/b>.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Are these news the proof that banks love blockchain applications or is it just fear?<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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 \u201cProject Jasper\u201d, according to The Financial Times. 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