Bank of Canada "CBDC, might see the light of the day sooner than expected."
On Dec 1st Timothy Lane, Deputy Governor and head of research at the bank’s fintech and crypto department, Stated that Canada’s central bank digital currency, or CBDC, might see the light of the day “sooner than expected. Back in Feb (AKA BC - before Covid) the bank to issue a CBDC sooner that it originally planned based upon Triggers. Those defined triggers were
1) Disappearance of the acceptance of cash
2) Emergence of digital currencies
The latest remarks by the deputy governor suggest that the Bank of Canada is shifting its stance toward a CBDC.
So simple common sense shows both of these triggers were met this year!
What else do we know?
Canada ranks 38th by population, comprising about 0.5% of the world's total, with over 38 million Canadians as of 2020. We know that the Central Bank of Canada owned Zero (null, void, zip, zilch) Gold in Feb. '20. They started their CBDC trail earlier this year and in Oct. '20 they announced they were moving past trial phase...
How many Crypto ATM's Canada have?
According to https://coinatmradar.com/ Canada has 1002 Crypto ATM's . That might sound like a high number but keep in mind that Canada has a huge wide and vast geography and most of these ATM's are located in urban areas. So how will they access Crypto's?
Can Canadians access Crypto exchanges freely?
Upon my research it does NOT appear that Canadians are restricted from buying and selling Crypto's. So a modern way to purchase and sell Crypto's
This is NOT investment advice nor should you consider it as such!
Compare Canada vs US
The USA has an estimated population of 330,052,960 as of August 2, 2020 and it has 10394 Crypto ATM's while the US only has 1% more land mass (not a big amount if you ask me)
The US government continues to act like a petulant child which is easily distracted by the newest distraction, rather than focus on leading the world and its citizens.
IF Canada quickly releases its CBDC it is one to watch as its a Top Down Approach, many things to learn from a close neighbor. Meanwhile many World Governments continue to function, learn and lead while others frolic in their own egesta.
Enjoy the Journey!