{"id":140867,"date":"2024-10-29T19:00:38","date_gmt":"2024-10-29T17:00:38","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140867"},"modified":"2024-10-29T13:39:52","modified_gmt":"2024-10-29T11:39:52","slug":"canadians-are-not-ready-for-a-digital-dollar-initiative","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/canadians-are-not-ready-for-a-digital-dollar-initiative\/","title":{"rendered":"Canadians Are Not Ready for a Digital Dollar Initiative"},"content":{"rendered":"<p>Recent research from the BOC, aimed at understanding changing payment preferences, revealed a persistent favoring of traditional payment methods among the population.<\/p>\n<p>The BOC\u2019s <strong><a href=\"https:\/\/www.bankofcanada.ca\/wp-content\/uploads\/2024\/10\/sdp2024-16.pdf\" target=\"_blank\" rel=\"nofollow\">report<\/a><\/strong>, published on October 28, highlights Canadians\u2019 preference for cash and card transactions for everyday purchases. A survey from July indicated that fewer than 3% of respondents have used Bitcoin or other cryptocurrencies for routine payments since 2022.<\/p>\n<p>While 42% of survey participants expressed a positive view of a potential digital Canadian dollar, only 20% voiced strong negative feelings about it. The rest remained neutral or showed a lack of understanding of the technology. The report emphasized that interest in a central bank digital currency (CBDC) does not guarantee actual adoption.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/coinbase-announces-nba-sponsorship-first-one-since-ftx-collapse\/\" title=\"Coinbase Announces NBA Sponsorship \u2013 First One Since FTX Collapse\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/na-coinbase-review-2021-1-1000x512-1-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Coinbase Announces NBA Sponsorship \u2013 First One Since FTX Collapse<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Participants indicated that for a digital dollar to be widely accepted, it must prove to be entirely reliable from the start, alongside providing ease of use, privacy, data security, convenience, and an overall better experience than current systems.<\/p>\n<p>Interestingly, most respondents noted that offline functionality was not a priority, preferring cash in emergency situations. The BOC recognizes the need for considerable investment and a public awareness campaign to encourage adoption of a digital currency.<\/p>\n<p>In light of this, the central bank has decided to reduce its efforts on a retail CBDC, opting instead to concentrate on broader payment system research and policy development. Other countries, like Australia and Colombia, have also paused their CBDC projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadians appear hesitant about fully embracing the Bank of Canada\u2019s (BOC) digital dollar initiative, despite some interest in the concept.<\/p>\n","protected":false},"author":9,"featured_media":23918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[28,22],"tags":[],"class_list":["post-140867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadians Are Not Ready for a Digital Dollar Initiative<\/title>\n<meta name=\"description\" content=\"Canadians appear hesitant about fully 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