Bank Of Canada Partners MIT To Take CBDC Research A Step Further.
18 Mar 2022, 08:00
Bank Of Canada Partners MIT To Take CBDC Research A Step Further
Canada’s central bank has disclosed that they will be working with the Massachusetts Institute of Technology (MIT) to extend their CBDC research. However, the Bank has revealed no intention to launch a CBDC.
A Year-Long ResearchIn a press release yesterday, the Bank of Canada, the country’s apex bank, announced that they would be working with MIT to explore the potential of blockchain technology in developing a CBDC. The Bank of Canada’s statement revealed that the research would go on for 12 months.
The Bank, in the statement, revealed that it would be an extension of the research carried out by the institution’s Digital Currency Initiative (DCI). According to the press release, the Bank reported that the collaboration would “help inform the Bank of Canada’s research effort into CBDC.”