Bank of Canada: Blockchain Not More Effective Than Central Bank System ‘at This Time’


A Bank of Canada (BoC) official questioned the effectiveness and security of using blockchain tech for banking at a conference in South Korea today, June 14, according to local reports.

As part of a presentation at the 2018 G20 Global Financial Stability Conference in Seoul, James Chapman, senior research director at the BoC’s funds management and banking department, also called cryptocurrency assets “a new opportunity and a threat to the financial market.”

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