Canada Backs Central Bank-issued Crypto to Bring Economic Gains

2018-7-28 23:03

An economic and crypto researcher at the Canda’s central bank says that the existence of CBDCs could provide better flexibility in creating monetary policies.
Banking institutions from around the globe and other financial agencies have been largely promoting the idea of Central Bank-backed Digital Currencies (CBDCs).
Off lately we have been seeing a lot of countries and their central banks mulling out options to work on CBDCs which operate under the regulatory purview of the respective countries.
Recently, a central bank researcher for the Bank of Canada – S. Mohammad R. Davoodalhosseini says that a central bank-issued digital currency can prove to be economically fruitful to the country along with its neighbour, the United States, with whom Canada shares a very good equation on economic aspects.
It said:
“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the cryptocurrency market, broadening the number of competitors.

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Bank of Canada Paper says CBDCs Will Bring Economic Gains

Countries that are still thinking of whether to introduce a central bank digital currency or not should find the decision easier to make now. A new research paper released by S. Mohammad R. Davoodalhosseini of the Bank of Canada on Thursday highlighted the economic gains that can be realized when a country issues a domestic […] The post Bank of Canada Paper says CBDCs Will Bring Economic Gains appeared first on ZyCrypto.

2018-7-27 18:58


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The Central Banks Of Australia And New Zealand Against Cryptocurrencies

The trend of ‘central banks’ talking about cryptocurrencies is warming up once more, with The Reserve Bank of Australia (RBA) and The Reserve Bank of New Zealand (RBNZ) weighing in on the debate. The pair have moved to debunk rumours that they are investigating in establishing their own central bank digital currency, on the basis that they believe such a project would inevitably damage their current banking system.

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