The Bank of Canada and the Massachusetts Institute of Technology (MIT) announced today that they have signed an agreement to collaborate on a 12-month research project on a central bank digital currency (CBDC).

The bank will build on DCI's ongoing research into the CBDC, working with the MIT Media Lab's Digital Currency Initiative team to explore how advanced technologies can impact the potential design of a CBDC. This research will help inform the Bank of Canada's research efforts towards CBDC.

The announcement from the bank said it will work with MIT Media Lab's Digital Currency Initiative (DCI) team to explore "how advanced technologies are impacting CBDC design."

bank of canada

"We Have Not Decided Yet to Introduce the Project to Canada"

According to the Bank of Canada, the project is on a development agenda of how cryptocurrencies, fintech and CBDC will work in Canada. The institution seems to have determined the details of the project, saying, "We have not yet decided to introduce CBDC to Canada."

This isn't the first time MIT has partnered with a central bank on CBDC research. He had previously worked with the Boston Federal Reserve Bank to do research in this area.

Ethereum-8

20,000 ETH transferred between wallets while whale purchases continue

Whale data reports that as whales continue to accumulate the largest altcoin, around 20,000 ETH (around $55.7 million) has been moved between wallets. Major Ethereum addresses continue to accumulate despite selling pressure in the cryptocurrency.

According to WhaleStats data, whales continue to collect assets such as Ethereum, Shiba Inu, SAND and MANA in the last hours.

Cardano ADA-5

Cardano surpasses $200 million locked total

The Cardano ecosystem continues to grow. The fact that the value staked on the Cardano network officially exceeds the $ 200 million limit is shown as the biggest indicator of this. According to various sources, as of March 16, Cardano's total locked value has reached $207.67 million.

Ada Coin price, on the other hand, is just below $ 0.85 with a value increase of close to 5% today.