Canada’s Central Bank moving to create Central Bank Digital Currency

Oct 28, 2022 | Political News

Central banks around the world have been discussing the possibility of digital currencies as the use of cash continues to dwindle in lieu of electronic and online payment systems, and Canada is no exception

Two years ago, the Bank of Canada joined a study group alongside the European Central Bank, the Bank of Japan, the Bank of England, the Swedish Riskbank and the Swiss National Bank to discuss digital currencies, and it appearas as though the lessons learned are beginning to manifest at home, as the Bank has released a list of several “archetypes” of CBDC systems, otherwise known as central bank digital currencies.