There is a new excitement in the crypto space, and it isn’t about returning to the wild days of 2018 or 2021 of crazy speculative frenzies
Andreas Park is a professor of finance at the University of Toronto Mississauga and Rotman School of Management. He is the academic director of the Rotman FinHub.
Last month, a parliamentary committee grilled Royal Bank of Canada’s Ramesh Siromani on e-transfer fees. According to a 2023 McKinsey report, the per capita cost of payments in Canada – the money coming out of each and every Canadian’s pocket just to move bits and bytes across our banks’ databases – is more than double that of comparable Organization for Economic Co-operation and Development countries.
In other words, the recent price surges reflect the growing excitement and anticipation about what’s to come in the crypto space. To me, this isn’t about a return to the chaotic, speculative frenzies of 2018 or 2021. I sincerely hope the era of scam tokens and trash projects is behind us – though, unfortunately, some of that nonsense will likely resurface. Instead, I believe something more meaningful is emerging.
know-your-customer and anti-money-laundering , paving the way for fintech providers to offer compliant, blockchain-based applications.with blockchain, enabling instant domestic and international payments with virtually zero fees. A technology like this in Canada could create a competitive real-time payments network with minimal fees – overnight!
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