Photo: The Canadian Press For the last few years, the Bank of Canada has been working on the logistics of a potential Central Bank Digital Currency: a purely digital form of the Canadian dollar. While the choice about whether to launch a CBDC rests with the federal government, the central bank has said it wants to be prepared for the possibility — especially as Canadians increasingly use digital methods of payment in their daily lives. Here’s how a CBDC might work, and why the Bank of Canada is considering one. What is a Central Bank Digital Currency? A retail CBDC is essentially a digital version of physical cash. Like cash, CBDCs are issued by central banks, and their value is tied t
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