Unlike in the case of centralised crypto-asset exchanges, where most transactions are initially settled outside of the blockchain network, all transactions are executed on the blockchain ("on-chain"). Changes to the software code should not be decided by central bodies, but by a "community" and “governance token”, representing a kind of voting right. What sounds like a decentralised system is, in practice, often highly concentrated.
Your ingenuity and willingness to invest in digitalization have laid the groundwork for productivity growth—now we need to turn that short-term success into long-term growth. Canadians count on the Bank of Canada to control inflation. And they count on businesses to invest in capital and people to grow our economy. So let’s discuss the issues and consider solutions together. Thank you.