\n<\/p>\n
Multiverse Computing and the central bank modelled a simulation of cryptocurrency adoption <\/p>\n
Publishing date:<\/p>\n
Apr 18, 2022<\/span> \u00a0\u2022\u00a0 2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 2 minute read<\/span> \u00a0\u2022\u00a0 <\/svg><\/span> 8 Comments <\/span> <\/div><\/div>\n<\/picture>The Bank of Canada is experimenting with quantum computing.<\/span> Photo by Justin Tang\/Bloomberg<\/span> <\/figcaption><\/figure>\n<\/header>\n\nArticle content<\/h2>\nThe Bank of Canada is experimenting with quantum computing as a means of tackling complex financial problems, potentially those involving cryptocurrencies, that go beyond the scope of traditional computers.\u00a0\u00a0<\/b><\/p>\n<\/section>\n\n\nAdvertisement 2<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing, a quantum software company based in Spain with offices in Toronto, says it recently built out a simulative model from scratch in collaboration with Canada\u2019s central bank.\u00a0\u00a0\u00a0<\/b><\/p>\n\u201cWe wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,\u201d said Maryam Haghighi, the director of data science at the Bank of Canada, in a press release. \u201cThis collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.\u201d<\/p>\nQuantum computing leverages quantum theory to run complex calculations and problems as well as assess probabilities. The computers can process exponentially more data than traditional computing models.<\/p>\n<\/section>\n\n\nAdvertisement 3<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing relied on a technology called \u201cquantum annealing,\u201d a quantum-computing method that attempts to determine an optimal solution from a large array of potential solutions.<\/p>\nIn this case, the company and the Bank modelled a simulation of cryptocurrency adoption as a means of payment by non-financial companies, encoding every possible combination of outcomes in a ten-person network.<\/p>\n\u201cThis is not possible to do using today\u2019s classical computers as far as we have seen, as the number of possible configurations explodes for large systems,\u201d\u00a0Sam Mugel, the chief technology officer at Multiverse,\u00a0told the Financial Post.\u00a0<\/span>\u201cFor instance, with just 10 players, as in this scenario, the number of possible combinations would be a number equal to a one with 30 zeros behind it.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
The Bank of Canada is experimenting with quantum computing as a means of tackling complex financial problems, potentially those involving cryptocurrencies, that go beyond the scope of traditional computers.\u00a0\u00a0<\/b><\/p>\n<\/section>\n\n\nAdvertisement 2<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing, a quantum software company based in Spain with offices in Toronto, says it recently built out a simulative model from scratch in collaboration with Canada\u2019s central bank.\u00a0\u00a0\u00a0<\/b><\/p>\n\u201cWe wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,\u201d said Maryam Haghighi, the director of data science at the Bank of Canada, in a press release. \u201cThis collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.\u201d<\/p>\nQuantum computing leverages quantum theory to run complex calculations and problems as well as assess probabilities. The computers can process exponentially more data than traditional computing models.<\/p>\n<\/section>\n\n\nAdvertisement 3<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing relied on a technology called \u201cquantum annealing,\u201d a quantum-computing method that attempts to determine an optimal solution from a large array of potential solutions.<\/p>\nIn this case, the company and the Bank modelled a simulation of cryptocurrency adoption as a means of payment by non-financial companies, encoding every possible combination of outcomes in a ten-person network.<\/p>\n\u201cThis is not possible to do using today\u2019s classical computers as far as we have seen, as the number of possible configurations explodes for large systems,\u201d\u00a0Sam Mugel, the chief technology officer at Multiverse,\u00a0told the Financial Post.\u00a0<\/span>\u201cFor instance, with just 10 players, as in this scenario, the number of possible combinations would be a number equal to a one with 30 zeros behind it.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing, a quantum software company based in Spain with offices in Toronto, says it recently built out a simulative model from scratch in collaboration with Canada\u2019s central bank.\u00a0\u00a0\u00a0<\/b><\/p>\n\u201cWe wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,\u201d said Maryam Haghighi, the director of data science at the Bank of Canada, in a press release. \u201cThis collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.\u201d<\/p>\nQuantum computing leverages quantum theory to run complex calculations and problems as well as assess probabilities. The computers can process exponentially more data than traditional computing models.<\/p>\n<\/section>\n\n\nAdvertisement 3<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing relied on a technology called \u201cquantum annealing,\u201d a quantum-computing method that attempts to determine an optimal solution from a large array of potential solutions.<\/p>\nIn this case, the company and the Bank modelled a simulation of cryptocurrency adoption as a means of payment by non-financial companies, encoding every possible combination of outcomes in a ten-person network.<\/p>\n\u201cThis is not possible to do using today\u2019s classical computers as far as we have seen, as the number of possible configurations explodes for large systems,\u201d\u00a0Sam Mugel, the chief technology officer at Multiverse,\u00a0told the Financial Post.\u00a0<\/span>\u201cFor instance, with just 10 players, as in this scenario, the number of possible combinations would be a number equal to a one with 30 zeros behind it.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
Multiverse Computing, a quantum software company based in Spain with offices in Toronto, says it recently built out a simulative model from scratch in collaboration with Canada\u2019s central bank.\u00a0\u00a0\u00a0<\/b><\/p>\n
\u201cWe wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,\u201d said Maryam Haghighi, the director of data science at the Bank of Canada, in a press release. \u201cThis collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.\u201d<\/p>\n
Quantum computing leverages quantum theory to run complex calculations and problems as well as assess probabilities. The computers can process exponentially more data than traditional computing models.<\/p>\n<\/section>\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\nMultiverse Computing relied on a technology called \u201cquantum annealing,\u201d a quantum-computing method that attempts to determine an optimal solution from a large array of potential solutions.<\/p>\nIn this case, the company and the Bank modelled a simulation of cryptocurrency adoption as a means of payment by non-financial companies, encoding every possible combination of outcomes in a ten-person network.<\/p>\n\u201cThis is not possible to do using today\u2019s classical computers as far as we have seen, as the number of possible configurations explodes for large systems,\u201d\u00a0Sam Mugel, the chief technology officer at Multiverse,\u00a0told the Financial Post.\u00a0<\/span>\u201cFor instance, with just 10 players, as in this scenario, the number of possible combinations would be a number equal to a one with 30 zeros behind it.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
Multiverse Computing relied on a technology called \u201cquantum annealing,\u201d a quantum-computing method that attempts to determine an optimal solution from a large array of potential solutions.<\/p>\n
In this case, the company and the Bank modelled a simulation of cryptocurrency adoption as a means of payment by non-financial companies, encoding every possible combination of outcomes in a ten-person network.<\/p>\n
\u201cThis is not possible to do using today\u2019s classical computers as far as we have seen, as the number of possible configurations explodes for large systems,\u201d\u00a0Sam Mugel, the chief technology officer at Multiverse,\u00a0told the Financial Post.\u00a0<\/span>\u201cFor instance, with just 10 players, as in this scenario, the number of possible combinations would be a number equal to a one with 30 zeros behind it.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n <\/p>\n\n <\/picture>\n In disruptive quantum sector, Canada risks coming \u2018third in a two-man race\u2019 for intellectual property <\/span> <\/h3>\n<\/li>\n <\/picture>\n D-Wave\u2019s quantum computers \u2018can save energy, solve climate change\u2019 <\/span> <\/h3>\n<\/li>\n <\/picture>\n What \u2018higher and faster\u2019 Bank of Canada rate hikes could mean for homeowners <\/span> <\/h3>\n<\/li>\n <\/picture>\n Bank of Canada survey shows most businesses think it will take at least two years to get inflation under control <\/span> <\/h3>\n<\/li>\n<\/ol>\n <\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
<\/section>\nMultiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
Multiverse\u2019s study ultimately found that for some industries, digital assets would take part in the payments market alongside traditional bank transfers and cash instruments. To the degree each financial institution gets involved in the crypto space and the size of the market share they take on depends on how these institutions respond to crypto adoption and the economic costs of crypto trading.<\/p>\n<\/section>\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\nThe Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\nMore recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
\u201cThe crypto market is extremely volatile and notoriously hard to regulate,\u201d Mugel said. \u201cOur technology will allow central banks to predict the effect of regulations.\u201d<\/p>\n
The Bank of Canada has been exploring the cryptocurrency space for years, particularly when it comes to the possibility of a central bank digital currency (CBDC). While the Bank has yet to find a reason to roll out a CBDC, it\u00a0laid out the groundwork\u00a0for central bank-issued digital currencies as far back as February 2020.<\/p>\n
More recently from a policy side, the federal budget proposed funding of $17.7 million spanning over five years for a legislative review of digital dollars led by the Department of Finance. The federal government stated the first phase will explore digital currencies such as cryptocurrencies and stablecoins, with expansion to the possibility of CBDCs if the need arose.<\/p>\n
\u2022 Email: shughes@postmedia.com | Twitter: StephHughes95<\/a><\/em><\/p>\n<\/section>\n\nShare this article in your social network<\/h2>\n<\/section>\n\n\n\nAdvertisement <\/h2>\n\n\n\n\n This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n\n<\/p>\n\nFinancial Post Top Stories<\/h2>\nSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n\nThanks for signing up!<\/h3>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Financial Post Top Stories will soon be in your inbox.<\/p>\n<\/p><\/div>\n We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n
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