Bank of Canada finds Canadians wary of adopting digital dollar
Canadian consumers are skeptical of the early adoption of the digital dollar concept by the Bank of Canada (BOC). The Bank of Canada recently conducted research to understand changes in consumer payment preferences, with the ultimate goal of preparing for the development of an internal central bank digital currency (CBDC). The research report released by the Bank of Canada on October 28th reiterated Canadians' long-standing love for traditional fiat payment systems, while an increasing number of people are supporting the issuance of a digital Canadian dollar. In contrast, 42% of participants in the latest survey had a good initial impression of the hypothetical digital Canadian dollar, while only 20% of people "disliked" or "hated" the idea completely. The remaining 38% either held a neutral attitude or expressed a lack of understanding of the technology.
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