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<ul class="news-points"> 
 <li>Bank of Canada reveals most Canadians are not enthusiastic about CBDC adoption.</li> 
 <li>Canadians have diverse payment methods, limiting CBDC appeal.</li> 
 <li>Majority’s role crucial for CBDC adoption; merchant acceptance relies on demand.</li> 
</ul> 
A recent staff discussion paper released by the Bank of Canada sheds light on how Canadians view the idea of a <a href="https://coinedition.com/tag/cbdc/" rel="noopener noreferrer nofollow">Central Bank Digital Currency (CBDC)</a> as a solution for unmet payment needs in a cashless society. The findings suggest that most Canadians are not particularly enthusiastic about widely adopting a CBDC. 
According to the <a href="https://www.bankofcanada.ca/wp-content/uploads/2023/08/sdp2023-15.pdf" target="_blank" rel="noopener noreferrer nofollow">research</a>, the typical Canadian already enjoys access to a variety of payment methods, including cash, debit and credit cards, mobile wallets, and online transfers. Consequently, these consumers don’t see strong incentives to adopt and actively use a CBDC for their transactions. 
A CBDC is an electronic form of cash issued directly by a country’s central bank. Unlike cryptocurrencies issued by private entities, CBDC is government-backed and holds the same value as physical cash. 
While there is a minority of consumers with unmet payment needs, the study highlights the crucial role of the majority in driving CBDC … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/canadians-show-reluctance-to-embrace-cbdc-at-scale-bank-of-canada/">Canadians Show Reluctance to Embrace CBDC at Scale: Bank of Canada</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Canadians Show Reluctance to Embrace CBDC at Scale: Bank of Canada

Coin Edition

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