The Bank of Canada, the country's central bank,has launched;an online public consultation on a potential central bank digital currency (CBDC).
The consultation process will continue until June 19.
- The process aims to hear Canadians' opinions on the potential use cases of a digital dollar, crucial security features regarding the CBDC, the state-backed digital currency's accessibility, and other aspects regarding privacy.
- The bank underlined that the country currently does not need a CBDC, but the consultation results will be used when a national digital currency is required.
- In its statement, the central bank also pointed out that cash usage would not change in the country even if a CBDC is implemented someday.
- Carolyn Rogers, senior deputy governor of the Bank of Canada, said they want to make sure that everyone can always take part in the Canadian economy.