Canada’s central bank asks citizens what they want in a digital dollar

” The BoCs senior deputy governor Carolyn Rogers stated in a declaration the bank desires to hear what Canadians “value most in the style of a digital dollar” to help it make choices relating to its security and dependability along with ensuring it “fulfills the requirements of Canadians. #HaveYourSay by June 19: https://t.co/p8BdG3tQ9h pic.twitter.com/vKRoBfAngu— Bank of Canada (@bankofcanada) May 8, 2023

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The bank was fast to state that its not starting work on a main bank digital currency (CBDC) and wasnt looking to change money if it does. It stated, nevertheless, that numerous Canadians might be omitted from the economy in the future if the use of banknotes falls.If a CBDC was issued, physical notes would still be supplied “for those who desire them” the bank said.The BoC likewise described the possibility that cryptocurrencies or foreign CBDCs “might become extensively used in Canada.” Related: Retail CBDCs bring unknown repercussions to monetary system– IMF directorThe consultations survey asks Canadians a wide variety of concerns including the payment techniques theyve used in the last month, how often they would potentially use a Canadian CBDC and what design functions they wish to see.It also specifically asks if the study taker uses or holds cryptocurrencies and features a range of demographic concerns about gender, age, education and income.Canadians are asked as part of the digital dollar consultation if they use or hold crypto.