ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Bank of Canada Joins List of Central Banks Considering Development of Own Digital Currency

Tolu Ajiboye by Tolu Ajiboye
October 18, 2019
in News
0
Bank of Canada Joins List of Central Banks Considering Development of Own Digital Currency
0
SHARES
26
VIEWS
Share on FacebookShare on Twitter

According to media reports, the Bank of Canada (BoC) is currently considering the development of its own digital currency and weighing the possible advantages or downsides of such an endeavour. According to reports, the BoC is looking into this as a way to quickly shield itself from any unforeseen problems that could stem from the general worldwide adoption of cryptocurrencies, which is slowly increasing.

A document with the title “Central Bank Money: The Next Generation” which was supposedly written last year for the BoC Governor, Stephen Poloz, was included in a research endeavour to support the possibility of the BoC’s own central bank digital currency (CBDC). The document highlights the need for a CBDC with advantages that will greatly benefit the BoC.

“We need to innovate to stay in the game. [A CBDC] would provide all the benefits of a central bank-backed asset, as well as all the convenience and security of wireless, electronic payments.”

The report also notes that a good enough benefit for the implementation of a CBDC would be that the bank will be able to collect more information on its users and citizens in general which could easily be used to track unscrupulous activity.

Crypto adoption in Canada has been increasing gradually and now, the country is looking to join a growing list of countries who are interested in developing their own CBDC. Canada, just like the U.S., is now concerned about worldwide adoption of cryptos and the threat it poses to monetary policy.

Image Credits: Pixabay

Tags: Bank of CanadaBoCCanadacbdcCentral Bank Digital currencyCentral Bank Money: The Next GenerationStephen PolozU.S.United StatesUnited States of America
Previous Post

Singapore’s CIMB Concludes Blockchain Powered Trade Financing Transaction

Next Post

Privacy-Focused Brave Blockchain Browser Has Hit 8 Million Active Monthly Users

Next Post
Privacy-Focused Brave Blockchain Browser Has Hit 8 Million Active Monthly Users

Privacy-Focused Brave Blockchain Browser Has Hit 8 Million Active Monthly Users

Recent Stories

Cardano Price Analysis: Bulls Drive ADA/USD Price Past $0.37, Cardano Wants To Help Twitter Decentralize Social Media

Cardano Price Analysis: Bulls Drive ADA/USD Price Past $0.37, Cardano Wants To Help Twitter Decentralize Social Media

January 16, 2021
Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

January 15, 2021
Quickly

Financial Advisor Introduces Petition for the UK Government to Ban Crypto Transactions

January 15, 2021
LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

January 15, 2021
Bitcoin

Bitcoin Falls Below $35k Despite the Unveiling of Biden’s $1.9 Trillion Stimulus

January 15, 2021
cryptocurrencies

The Impact Of Cryptocurrencies On The Global Marketplace

January 15, 2021
What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

January 14, 2021
Trading

PayPal Crypto Trading Volume Climbed $242 In One Day

January 14, 2021
Bitcoin

Government of Pakistani Province Announces Launch of Bitcoin Mining Farms

January 14, 2021
Ethereum

Google Data Reveals “Ethereum” Searches Hit All-Time High

January 14, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 36,450.00 4.4%
  • ethereumEthereum (ETH) $ 1,258.83 12.52%
  • tetherTether (USDT) $ 1.00 0.6%
  • bitcoin-cashBitcoin Cash (BCH) $ 497.77 4.97%
  • binancecoinBinance Coin (BNB) $ 42.90 6.72%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree