BANK OF CANADA MULLING DIGITAL CURRENCY DESIGN

Oct 01, 2018

By Michael Kramer

Share on

Canada’s central bank is looking at the key questions around the design of a digital currency.

But deputy governor Timothy Lane says the bank wouldn’t recommend issuing such a currency – unless the risks associated with it can be managed through appropriate design.

Speaking at the University of Calgary, Lane said those risks include concern that the currency could become a vehicle for illicit transactions.

He says cryptocurrencies currently don’t do a good job of performing the basic functions of money – but as they evolve – they may approach the central bank’s core functions – including monetary policy, financial stability, payments and currency.

Advertise With Us

To learn about advertising opportunities with Zoomer Radio use the link below:

Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: