Bank of Canada and MIT to Conduct a Joint Research Project on CBDC

Canada’s central bank collaborated with the Massachusetts Institute of Technology (MIT) to launch a twelve-month research project on central bank digital currency (CBDC). The study will inform the financial institution about the product’s potential merits and its possible implementation in the monetary network.
Bank of Canada Catches the CBDC Wave
According to a recent announcement, the central bank of Canada joined a number of countries that are already actively exploring CBDCs. Specifically, it partnered with MIT on a one-year research project to explore how “advanced technologies could affect the potential design of a CBDC.”
The initiative is part of the bank’s broader development agenda on cryptocurrencies and fintech. The institution said the experiment will follow how CBDC interacts with the financial system. However, whether a CBDC will be introduced in Canada or this is just a research project with no follow-up remains unknown. The central bank informed it will provid

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