For the last few years, the Bank of Canada has been working on the logistics of a potential Central Bank Digital Currency: a purely digital form of the Canadian dollar. While the choice about whether to launch a CBDC rests with the federal government, the central bank has said it wants to be prepared for the possibility — especially as Canadians increasingly use digital methods of payment in their daily lives.
Here’s how a CBDC might work, and why the Bank of Canada is considering one.
They know everything about you already, not sure this will make it easier.
