Today the Bank of Canada opened a public consultation around a potential central bank digital currency (CBDC), or digital Canadian dollar. The CBDC consultation will run until June 19.
While the central bank believes a retail CBDC is not currently needed, Senior Deputy Governor Carolyn Rogers said, “As Canada’s central bank, we want to make sure everyone can always take part in our country’s economy. That means being ready for whatever the future holds.”
It elaborated on two potential motivations for a CBDC. One is where cash use declines to such an extent that it’s no longer accepted, which could financially exclude groups of people.
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