Published On: Wed, Aug 16th, 2017

Bank of Canada Report: Imagining a “Bitcoin Standard” Financial System

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In a 37-page long research paper, Warren E. Weber, research consultant at Bank of Canada who is also a visiting scholar at the Federal Reserve Bank of Atlanta and adjunct professor at the University of South Carolina, speculated about a financial system where bitcoin would be the standard currency (referred as the “Bitcoin standard”) instead of fiat currencies.In the study, Weber explored the similarity between the Bitcoin standard and the gold standard. The research consultant chose to compare bitcoin to gold since the two have many similarities. The two most prominent resemblances include the lack of control …

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