# kaal:claim:3606663-039

**Claim.** The Bank of Canada's year long Jasper trial revealed a tradeoff rather than a solution: Ethereum would make the wholesale payment system more resilient but was costly and raised privacy issues, while Corda addressed cost and privacy but made the system less resilient, and the Bank concluded in May 2017 that blockchain was not mature enough to run a national interbank payment system.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- Bank of Canada Jasper trial
- national interbank payment system use case
- as of May 2017

**Source quote.**

> While Ethereum would make the wholesale payment system more resilient but would be costly and raised privacy issues, Corda was able to address the cost and privacy concerns but made the system less resilient.

**From.** Kaal, *Digital Asset Market Evolution* (2020), b) Public Realm, page 51

**Cite as.** Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

**Verify.** sha256 of source PDF `d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202020%20-%20Digital%20Asset%20Market%20Evolution.pdf

**Failure mode.** resilience versus cost and privacy tradeoff in wholesale DLT settlement  (family: transition-and-migration-risk)

**Topics.** systemic-risk, decentralization, blockchain, consensus-and-security

**Keywords.** cbdc, bank-of-canada, distributed-ledger, resilience, privacy

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