The Bank of Canada has announced that it has partnered with the Massachusetts Institute of Technology (MIT) as part of a 12-month project to design and develop a Digital Central Bank Currency (CBDC).
The central bank said in a statement that it will work with MIT Media Labs’ Digital Currency Initiative (DCI) team to examine how advanced technologies can impact the potential of CBDC.
Canada on how the project will work within the country. development plans He said it was part of it. In addition, a CBDC has recently whether to promote However, no decision has been made on when the project is completed I was told that detailed information would be given.
MIT’s Digital Currency Initiative previously partnered with the Boston Federal Reserve Bank in February for CBDC research. have cooperated had explained.
United States of America President Joe Biden, in his executive order, stated that the CBDC to be produced by the USA potential design and on distribution options It is stated that he said to increase research and development efforts.