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Bank of Canada Experimenting With Blockchain-Type Technology

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The Bank of Canada is running experiments on interbank payment systems using blockchain-type technology to better understand how it works.

The central bank has no plans to issue any digital currency for public use, Senior Deputy Governor Carolyn Wilkins said in an e-mailed statement. Blockchain refers to the technology that underpins distributed ledgers, which are used for verifying and recording transactions for digital currencies such as bitcoin.