Bank of Canada


The BoC is active in the CBDC field.

In a statement made, the BoC is clear –

The Bank is therefore implementing a portfolio of initiatives designed to prepare for the future of money and payments and to be ready for different possible scenarios that we cannot currently predict. The most important of these initiatives are:

  1. supporting Payments Canada’s Payment Modernization program to improve the speed, reliability, accessibility and end-user experience of our payment systems; 2) ensuring bank notes remain available to Canadians who want to use them, including maintaining a distribution model that remains resilient and cost effective; and 3) building, as a contingency, the capability to issue a cash-like central bank digital currency (CBDC) to the public, should the need ever arise.

The BoC is not planning to actually implement a CBDC but only preparing so that the infrastructure is available so one could be implemented. Privacy was addressed and the bank stated that public blockchain would not be used – privacy would be observed.

Canada is in the top 30 for GDP by Capita. 

 

 

 

 

By cryptorocks_editor

Editor.