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Blockchain not yet ready for prime time says Bank of Canada

Posted on May 26, 2017 by Editor

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Project Jasper has been a year long experiment by the Canadian central bank to investigate whether blockchain, or 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 decentralised system can replace a centralised one. Read more in the Globe and Mail.

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