14 Nov '17, 9am

Singapore, Canadian Central Banks Unite on Blockchain Cross-Border Payments

Earlier this year, the Bank of Canada published results of its own blockchain experiment to test CAD-Coin, a digital currency developed in collaboration with New York-based industry startup R3. In it, the Canadian central bank determined that ‘a stand-alone DLT (distributed ledger technology) wholesale system is unlikely to match the efficiency and net benefits of a centralized system.’ It’s notable that the Bank of Canada is continuing its blockchain endeavor, this time with Singapore’s central bank – the latter which has already achieved early successes in developing its own digital currency token to power a blockchain interbank payments platform.

Full article: https://www.cryptocoinsnews.com/singapore-canadian-centra...

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