OTTAWA: The Central Bank of Canada will be testing the integration of payments and securities transactions with a blockchain platform, a move announced by the exchange operator TMX Group. This development is part of a joint project that involves the Central Bank of Canada, Payments Canada, and TMX Group.
The experiment represents Phase 3 of the Bank of Canada’s Project Jasper, which was launched in 2016. The previous phases dealt with high-value payments between banks based on blockchain technology. Despite the fact that the final verdict showed that the distributed ledger technology (DLT) could not compete with the advantages of a centralized system, the Bank of Canada wants to go further and assess blockchain’s potential from different viewpoints.