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Blockchain not yet ready for prime time says Bank of Canada

  • Canada Image

May 25, 2017

On May 25, 2017, the Globe and Mail released an article on Project Jasper. This project has been a year long experiment by the Canadian central bank to investigate whether blockchain, or distributed ledger technology (DLT), could replace existing wholesale payments technology within that country's financial system. The verdict? Not yet.

For the moment, critical issues associated with privacy and scalability mean that the project won't form the basis of interbank payments for the moment. There are also regulatory and, it seems, cultural issues to deal with, before a decentralized system can replace a centralized one.

Read the article on the Globe and Mail's website.

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