👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Digital Canadian dollar fails to impress despite high awareness

Published 11/30/2023, 02:40 AM
Updated 11/30/2023, 04:20 AM
CAD/USD
-

A recent public consultation on Canada’s central bank digital currency (CBDC) initiative revealed an overall negative sentiment from Canadians, confirming the Bank of Canada’s concerns around its country-wide adoption.

Through the “Digital Canadian Dollar Public Consultation Report,” the Canadian central bank intended to identify a place for CBDCs in a world dominated by digital fiat payments and credit cards. However, in a survey that amassed 89,423 responses, Canadians demanded regulations requiring merchants to accept cash as payment.

Awareness of a digital Canadian dollar. Source: bankofcanada.ca
Canadians demand regulation for cash acceptance if CBDCs were to be introduced. Source: bankofcanada.ca
The survey asked if Canadians would prefer using a digital Canadian dollar instead of current payment methods. Source: bankofcanada.ca

Continue Reading on Cointelegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.