Bank of Canada welcomes more blockchain testing

Crazy Commentary : The senior deputy governor of the Bank of Canada presided over a panel meeting at an event held by Canada's independent law enforcement agency, the Competition Bureau, this week to talk about the internal blockchain testing project. He said that the current testing results are fruitful, so it will continue to iterate and improve the current research results.

Translation: Annie_Xu

The Bank of Canada welcomes the development of more blockchain prototypes, a senior central bank official said.

Carolyn Wilkins, senior deputy governor of the Bank of Canada, moderated a panel earlier this week at an event hosted by the Competition Bureau, Canada’s independent law enforcement agency. According to Reuters, Wilkins spoke during the event about Project Jasper, a blockchain initiative that aims to create a large-value payment settlement system.

Carolyn Wilkins

She said the Bank of Canada would consider a similar program.

"Jasper is new for the Bank of Canada and it's been one of the most fruitful experiments we've done, and we'd definitely like to do more of it."

The Bank of Canada started the so-called CAD-coin project last year. Other companies involved in the trial include Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank and TD Bank. R3, the startup behind the distributed ledger consortium, also participated in the trial.

Project Jasper enables central banks to learn key things about the technology, Wilkins wrote in a column earlier this month.

She said the project will continue and the Bank of Canada’s blockchain team will continue to iterate on development and address “bugs” in the original version.