Most of the proposed benefits of blockchain don't really come from features unique to it.
That from
a new research paper a new research paper by a Bank of Canada staffer, which suggests most of its assets come from more conventional technologies such as encryption and smart contracts.
Image via Bank of Canada.
By peeling back the layers of blockchain, the study’s author, Author Hanna Halaburda, also suggests that blockchain has an impact on the economy from enthusiasm and uncertainty through optimistic valuations of blockchain-referencing start-ups.
The Bank of Canada has been involved in a research initiative to test whether blockchain could help establish an inter-bank wholesale payment system. Canada’s big banks, as well as the Government of Canada have been dedicating resources to studying the applications of blockchain from travel to security protocols.