Canadian Citizens Express Opposition to CBDC Launch
Date: 2023-12-03 Author: Dima Zakharov Categories: IN WORLD
Mixed Reactions to CBDC Launch
The Bank of Canada’s pursuit of a digital currency, termed CBDC, to modernize the country’s payment infrastructure has faced significant opposition from the Canadian populace. Initiated in 2021, the regulator began research dedicated to developing the Canadian digital dollar and assessing its integration within the country’s financial system.
Public Sentiment Against CBDC
Recent disclosures from the central bank indicate a predominantly negative response from Canadians toward the CBDC initiative. Survey results released by the regulator on Wednesday, conducted from May 8 to June 19, 2023, involved over 89,000 residents across various regions, representing diverse age and social groups. An overwhelming 85% expressed reluctance to embrace the central bank’s digital currency.
Preference for Traditional Methods
According to the survey, 92% of respondents don't see a need for implementing this new payment method, expressing contentment with cash and existing bank cards. Only 14% of those surveyed indicated a willingness to adopt the digital Canadian dollar.
Support from Cryptocurrency Users
The central bank noted that individuals who had previously invested in cryptocurrencies showed support for the CBDC project. However, this segment remains a minority, contrasting sharply with the overall sentiment against the proposed digital currency.
