Bank of Canada exploring digital currency that would replace cash, track how people spend money

An internal Bank of Canada presentation says benefits of a digital currency include the sharing of personal information with police or tax authorities

By -- Financial Post—— Bio and Archives--October 16, 2019

| Comments | Back To Full Article

The Bank of Canada is considering launching a digital currency that would help it combat the “direct threat” of cryptocurrencies and collect more information on how people spend their money, The Logic has learned. An internal Bank of Canada presentation, prepared for Governor Stephen Poloz and the bank’s board of directors, offers the most detailed public insight yet into the bank’s thinking on a proprietary digital coin. According to the presentation, the currency would be widely available. It would initially coexist with coins and paper money, eventually replacing them completely.-- More...
Read Full Article...

Welcome to CFP’s Comment Section!

The Comment section of online publications is the new front in the ongoing Cancel Culture Battle.

Big Tech and Big Media are gunning for the Conservative Voice—through their Comment Sections.

Canada Free Press wishes to stay in the fight, and we want our fans, followers, commenters there with us.

We ask only that commenters keep it civil, keep it clean.

Thank You for your patience and for staying aboard the CFP ‘Mother Ship’.

READ OUR Commenting Policy

CFP Disqus Comments