Loading ...Central Bank Digital Currency (CBDC) Projects Are Foundering In Five-Eye Nations. What Gives?
Canada and Australia shelve plans for retail CBDCs while the US could soon become the first country to explicitly ban the central bank from issuing a CBDC…
The Bank of Canada was one of the first Western countries to begin exploring the idea of issuing a CBDC, a whole seven years ago. Until recently, it seemed that the central bank was intent on launching a retail CBDC. In the summer, it argued that Canada would need its own digital currency to maintain monetary sovereignty and financial stability, among other reasons, as people continue to use less cash. Then, just a month ago, it quietly reversed policy. As CBC reported, the central bank is now less eager to develop a digital Loonie.
“The Bank has undertaken significant research towards understanding the implications of a retail central bank digital currency, including exploring the implications of a digital dollar on the economy and financial system, and the technological approaches to providing a digital form of public money that is secure and accessible,” the bank said in an email statement.
Instead, the central bank said its focus will be on preparing for the ongoing evolution of payments both in Canada and around the world, through policy research and analysis.
The announcement came almost a year after a public consultation by the central bank revealed widespread public hostility and skepticism toward the proposed launch of a CBDC. Eighty-five percent of respondents said they would not use a digital Loonie in their own lives (unless, of course, forced to) while 92% said there were no circumstances in which they would rather use a digital Canadian dollar over current forms of payment.
SHOCKING IF TRUE!
Perhaps Poilievre got word to them that he would disallow it, and he would appreciate it if they cancelled the program.
Eighty-five percent of respondents said they would not use a digital currency
in their own lives while 92% said there were no circumstances in which they would rather use a digital Canadian dollar over current forms of payment.
Hey K2…I posted this at least 6 months ago
This is NOT news
They cannot impliment this with virtually everyone ( they surveyed near 100,000 people ) telling them to fuck right off with this bullshit
Excellent — Goldtenters are 6 months AHEAD of Zerohedge — we should have a million members by now!!
A MILLION MEMBERS ? GOD FORBID
WE ONLY WANT GRADE AAA SOLID GOLD BRILLIANT CONSPIRACY THEORISTS HERE AND THERE AIN’T A MILLION OF US
EACH ONE OF US IS ONE IN A MILLION
🙂