A recent survey by WealthRocket found that most Canadians (59%) would be willing to use a central bank digital currency (CBDC) if the Bank of Canada decided to launch one. However, The figure may be somewhat nuanced, as 43% of all respondents would only be ‘somewhat’ willing.
Tthe devil is in the detail, as only 16% would be very or extremely willing to use the CBDC, compared with 25% who would not consider using it at all. Most people (43%) found themselves leaning toward the ‘somewhat willing’ option, but a significant portion (16%) didn’t feel confident enough to give a definite answer.
This lack of awareness suggests the need for a more effective public communications campaign. The Bank of Canada has been running a public consultation to explain its motivations and address citizens’ concerns when it comes to CBDCs, but many people still don’t know what to expect.
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