Tue May 9, 2023 – 4:34 pm EDT
OTTAWA (LifeSiteNews) – The Bank of Canada is looking at creating a “digital Canadian dollar” and wants public feedback on whether such a form of currency, which experts have warned could mean an end to purchasing anonymity, would be viable for Canadians.
“A digital Canadian dollar issued by the Bank would have to be designed to serve Canadians’ needs. That’s why the Bank is holding this online consultation: to understand which features are most important to Canadians,” the bank said in a press release yesterday.
“The Bank is also seeking opinions about topics related to a digital dollar.”
According to the bank, the creation of a digital dollar would not replace cash as a form of payment but could be needed if places stop accepting cash as a form of “payment.”
“People tend to use cash less often these days: Most payments are already digital, such as using debit or credit cards. If this trend continues, there may come a time when cash is not widely accepted in day-to-day transactions, which could exclude many Canadians from the economy,” the bank said.
The bank said that any final decision
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