Bank of Canada: Partners MIT on CBDC research

Bank of Canada: Partners MIT on CBDC research

• Bank of Canada has teamed up with the MIT on a twelve-month research project on central bank digital currencies
• The project will see the central bank and the MIT Media Lab’s digital currency initiative team experiment
• Bank has spent several years working with the country’s commercial lenders to explore the creation of a DLT
• Last year, it said that its work on a potential digital loonie has accelerated because of the Covid-19 pandemic
• Nevertheless, the bank continues to insist that “no decision has been made” on whether to roll out a CBDC
• For the MIT team, the work will build on research carried out with the Federal Reserve Bank of Boston