ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Bank Of Canada Backs Off Blockchain




Bank of Canada (BOC) announced today that blockchain technology is currently incompatible with its central banking system.

On May 25, 2017, BOC senior deputy governor Carolyn Wilkins and Gerry Gaetz of Payments Canada, a Canadian payment and settlement system operator, published their conclusion that many hurdles must be overcome before blockchain infrastructure can support the central bank.

This is a reflection of the position that was previously taken by Canadian officials on Project Jasper. The project was an initiative to settle bank transactions on a blockchain using CAD-Coin, a digital alternative to the Canadian dollar. Prior to the outcome of Project Jasper, officials concluded that regulatory measures are necessary to make cryptocurrencies safe.

During the now concluded study, the BOC found that the Jasper Project could settle wholesale payments and lower back-office reconciliation expenses.  Unfortunately, fixes to problems revolving around privacy concerns caused vulnerabilities in BOC's deployment of the distributed ledger technology (DLT) payment system – namely, leaving it susceptible to a single point of failure.

Another obstacle that must be overcome is the issue of scalability. Moving away from a fully decentralized network may boost transaction rates, but BOC reported that networks experience reduced resilience as a result.

The elements at play in Project Jasper proved to be a determining factor for BOC's decision to dismiss the technology for the time being. Still, BOC has a short-term goal of modernizing its payment system, albeit without blockchain technology.

According to BOC, it may consider utilizing a DLT system in the future for its wholesale market, but for now, the technology must advance to meet international safety, security, resilience, and efficiency standards.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Bank of Canada (BOC), Project Jasper or other Ethereum world news.