The Bank of Canada's digital Canadian dollar public consultation has revealed low Canadian enthusiasm towards the digitization of their local currency, with 89,423 survey responses generally displaying a negative sentiment. Nearly 95% of the respondents have heard or are familiar with the concept of a digital Canadian Dollar, however it does not lead to adoption. Daily payments tended to be made using paper cash, while credit and debit cards and other online payments were also used. Only 15% of respondents held crypto and of that marginal demographic, more interest was shown towards CBDCs than other payment methods. Regulations were requested from the Bank of Canada that merchants would be required to accept cash payments, and most people thought their feedback would most likely be ignored by the central bank.



Other News from Today