Canadian banking group supports the idea of using blockchain technology

A Canadian banking group supports the idea of using blockchain technology as part of a digital ID system for local residents. The Canadian news agency The Canadian Press reported on 15 January in its  various local media.

Neil Parmenter, Chief Executive of the Canadian Bankers Association (CBA), said during a talk at the Canadian Economic Club in Toronto, that unalterable solutions must form the basis for the future identification process for the banking and financial sectors.

The comments come from the the Canadian government, which is reshaping  banking sector that would allow third party companies such as fintech startups to participate and share access to user data.

Canada is also looking to employ blockchain in state level in other areas, the most recent activity was involving customs formalities at borders

 

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