BLOCKCHAIN BENEFITS NOT UNIQUE: BANK OF CANADA ANALYST

A new research paper by a Bank of Canada staffer says most of the proposed benefits of blockchain don’t really come from features unique to blockchain. Blockchain has been attracting attention as an efficient, highly secure, distributed-ledger technology with numerous applications — from easing cross-border transfers of funds, to creating a foundation for cryptocurrencies like Bitcoin. But a staff ana- lytical paper from the Bank of Canada suggests most of its assets actually come from more-conventional technologies such as encryption and smart contracts. Author Hanna Halaburda also suggests the enthusiasm and uncertainty surrounding blockchain has an impact on the economy, for example, through optimistic valuations of blockchain-referencing startups.