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CBDC in Canada? Central Bank Identifies Technical Path for Retail CBDC in New Research Paper
3 Articles
3 Articles
CBDC in Canada? Central Bank Identifies Technical Path for Retail CBDC in New Research Paper
The Bank of Canada took a significant step in exploring the technical feasibility of a digital Canadian dollar, proposing a specific system designed for a retail central bank digital currency (CBDC) focused on simple, everyday payments, according to a new research paper. The central bank’s research team examined OpenCBDC 2PC, a model developed in collaboration with the Massachusetts Institute of Technology's Digital Currency Initiative. This des…
A new technical report explores how a Canadian digital dollar would work for everyday use. The approach prioritizes user privacy, speed of transactions, and compatibility with decentralized structures. *** The Bank of Canada evaluated a bitcoin-like architecture based on UTXO. The proposed system would allow private payments even without registration with a digital dollar. Implementation is not yet decided, but it establishes solid foundations. …
Bank of Canada Explores Privacy-Focused Digital Dollar with MIT’s OpenCBDC Model
The Bank of Canada is advancing its research into a potential digital Canadian dollar, unveiling a new technical blueprint focused on privacy, decentralization, and everyday use. In partnership with MITs Digital Currency Initiative, the central bank tested the OpenCBDC 2PC model, a two-phase commit system designed to mimic the anonymity and simplicity of physical cash. The proposed model allows Canadians to hold digital funds in self-custodied w…
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