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Bank of Canada Prepares for Digital Currency “In Case One Is Needed”

by CBDC Insider Staff
February 27, 2020
in Business, South America
Reading Time: 1min read
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Bank of Canada Prepares for Digital Currency “In Case One Is Needed”
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Although the Bank of Canada has no plans for issuing a digital currency immediately, the Central Bank is not ruling out the possibility of launching one due to potential mass adoption of private digital currencies — and the possibility of cashless societies.
Bank of Canada Deputy Governor Tim Lane spoke at FinTech RDV 2020 in Montreal, and declared that although at the moment there is “not a compelling case” for a central bank digital currency (CBDC), a prototype is on the way and the Bank plans to consult with a wide range of stakeholders to potentially design a central bank digital currency.

Continue reading: https://cointelegraph.com/news/bank-of-canada-prepares-for-digital-currency-in-case-one-is-needed

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