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Bank of Canada researchers say zero-knowledge proofs are still too immature for CBDC use
Zero-knowledge proofs and similar cryptographic approaches to blockchain network privacy are "in their infancy," and aren't ready to be widely deployed in central bank digital currency (CBDC) systems. That's one conclusion in a new staff analytical note published by Canada's central bank. The Bank of Canda has been a leader in the research and development of CBDC prototypes. Between 2016 and 2018, as part of an initiative called Project Jasper, the bank explored the use of distributed ledger technology (DLT) for clearing and settling of bank-to-bank payments as well as securities transactions. The new note is meant ... (full story)