Majority of Canadians Willing To Use CBDC, Believe Their Privacy Will Be Guarded: Survey
Daily Hodl Staff
July 4, 2023
The majority of citizens in the second-largest North American economy are willing to put their trust in a central bank digital currency (CBDC).
According to a survey performed by WealthRocket, nearly 60% of surveyed Canadians say they are open to the idea of a CBDC.
“59% of Canadians are willing, to varying degrees, to use a central bank digital currency (CBDC) if one ever becomes available, and 25% would use it in place of cash.
56% of Canadians are concerned about the potential for fraud with a CBDC, as well as the risk of cyber attacks (53%), potential misuse of personal data (44%), and lack of anonymity with transactions (35%).
51% of Canadians are somewhat confident in the Bank of Canada to safeguard their privacy if a CBDC is implemented, while 25% aren’t confident at all.”
The Bank of Canada has stated that they do not have any current plans to introduce a CBDC but are making necessary preparations in case its parliament requests it in the future.
Advertisement
______________________________________________________
The Bank of Canada conducted the public consultation on CBDCs from April to June. Canadians were asked about their payment habits, how they would utilize a CBDC, and their level of trust in the government and institutions to safeguard their data.
The central bank intends to use the feedback gathered during the consultation to guide the ongoing development of CBDCs.
At least 130 countries, including Canada, are currently exploring CBDCs. Of the 20 G20 countries, 19 have CBDC programs in early development, according to recent reports.
You can read the full WealthRocket report here.
Source: The Daily Hodl
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
