Is the Bank of Canada Talking Early Adoption of a Digital Currency!
The link to the article follows. Draw your own conclusions.
The Toronto Star article:
https://www.pressreader.com/canada/toronto-star/20171201/281835759023339
The link to the article follows. Draw your own conclusions.
The Toronto Star article:
https://www.pressreader.com/canada/toronto-star/20171201/281835759023339
Thanks for posting this Brian! I think this is a very important topic for all Canadians. I hope we don't trade one bad system for another. This is an important time where Canadians can choose a better product over being scammed by the same old entities. Going to share this article!
Also I'm here anytime to support you in any way possible about bringing motion picture and steem together in the Canadian economy.
Thanks for sharing!
Thanks Dylan... Governor Poloz of the BofC seems to have a handle on things. He’s not one to auto-follow the USA. I assume he’s close to the Governor of Bank of England, Mark Carney, former BofC Governor and current Chairman of the G20 Financial Stability Board. As a result, I don’t think any one reserve bank will act unilaterally. They will throw out trial balloons before any action.
Banks do work with digital currency already; but that is something different then cryptocurrency.
Many bankers did sleep and missed the boat completely, now the focus is there,.... but should we happy with that ? I have big doubts,...
You and me both. Good point. As @fedesox commented above. Big difference between crypto currency and digital currency.
There is a big difference between cryptocurrencies and digital currencies, banks seems to mix them without understanding the huge difference between centralized digital currency and an open source decentralized code.
Very good point. You should do a vlog on it! I think we all could benefit.
Bitcoin will not be accepted by banks, that is the whole point.
Bitcoin is an attack on Centralised banking!
It is also why I think Bitcoin is the way forward!
Agreed. I don’t think the BofC was implying they were looking a Bitcoin as the currency of choice. They were suggesting a Canada Bank Digital Currency CBDC (maybe not a crypto currency at all). They were commenting on the benefits of a decentralized blockchain and were using Bitcoin as the example. See @fedesox comments above.
Thx brian. I guess so- soon the who world will follow when they have thought out the bonus structure for the bankers...;-)
Good one! Ha!
Well blockchain is great technology for digital currencies thats why banks and other institutions are going to adopt it but they are not forced to use bitcoin or other existing cryptocurrency
My guess, Reserve Banks like the Bank of Canada will build a unique national currency on blockchain technology - the big question is will it be a decentralized blockchain?
If any country could pull off a state-backed cryptocurrency, it’s probably Canada.
You may be right. But it is disconcerting that their motivation may be fear. Fear can be positive or negative. If it becomes too intense the Banks of Canada could become reactionary, maybe follow the US negative lead on Cryptocurrencies. Yikes! We’ll keep watching.
This is excellent news, since the change is taking place and little by little the financial market is forced to accept that the critics are here to stay, and they enter into the exchange or they will be part of the "yurasick Park"
greetings, success
Good one! Ha!
Thanks for sharing...I find this quite interesting.....
there was an article about bitcoin in The Globe and Mail as well today.
I missed it. Thanks Fior the heads up. I’ll check it out!
I thought many banks already have ripple to move around. I would agree to many of the previous comments that bitcoin is likely NOT going to be a crypto used by a lot of banks. There are just better blockchains out there currently and bankers are late to the party of bitcoin. Bankers always want control so when supply of bitcoin to them are low they go sell something else.
Agreed. No central bank will adopt Bitcoin as its coin. However, I wonder if banks are considering national currencies back by the Bitcoin. In the past it was the gold standard. Unlike gold, Bitcoin is an open book. Food for thought?
Bankers want control. Anything peg to bitcoin means they rely on bitcoin. I doubt bankers will let that roll. The banks will likely collaborate and make a universal coin and advertise to the public a coin that is accepted by all major banks. Invest in the bank by buying that coin. No way banks will ever open their books. That is how they carry their profits and dividends mostly to themselves and their supporters.
You're absolutely right!