Digital Canadian dollar fails to impress despite high awareness

A recent public consultation on Canada’s central bank digital currency (CBDC) initiative revealed an overall negative sentiment from Canadians, confirming the Bank of Canada’s concerns around its country-wide adoption.

Through the ‘digital Canadian dollar public consultation,’ the Canadian central bank intended to identify a place for CBDCs in a world currently dominated by digital fiat payments such as credit cards. However, in a survey that amassed 89,423 responses, Canadians demanded regulations that would require merchants to accept cash as a form of payment.

Awareness of a digital Canadian dollar. Source: bankofcanada.ca

Bank of Canada’s report shows that nearly 95% of the…

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