{"id":260226,"date":"2021-05-27T11:49:47","date_gmt":"2021-05-27T08:49:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bank-of-canada-sees-no-strong-case-for-a-digital-dollar-for-now\/"},"modified":"2021-05-27T11:49:47","modified_gmt":"2021-05-27T08:49:47","slug":"bank-of-canada-sees-no-strong-case-for-a-digital-dollar-for-now","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bank-of-canada-sees-no-strong-case-for-a-digital-dollar-for-now\/","title":{"rendered":"# Bank of Canada sees no strong case for a digital dollar \u2014 for now"},"content":{"rendered":"<p>&#8220;<strong># Bank of Canada sees no strong case for a digital dollar \u2014 for now <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNjA5YjU2MzQtOTdkNC00ODUyLWI2OGQtYTkyM2M0Y2ZiZTFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>The Bank of Canada does not see a strong reason for issuing a central bank digital currency, or CBDC at the moment.<\/p>\n<p>Timothy Lane, the Bank of Canada\u2019s deputy governor and head of research at the bank\u2019s fintech and crypto department, spoke on CBDC issues at a Wednesday panel, Reuters <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/canada-cenbank\/bank-of-canada-does-not-currently-see-strong-case-for-issuing-cbdc-idUST5N2IV00H\" data-amp=\"https:\/\/mobile-reuters-com.cdn.ampproject.org\/c\/s\/mobile.reuters.com\/article\/amp\/idUST5N2IV00H\">reports<\/a>.<\/p>\n<p>According to the official, the Canadian central bank is now focused on CBDC implementations in more concrete terms, thinking about how it might work and look. However, the Bank of Canada has not found any solid case for issuing a CBDC, Lane said:<\/p>\n<blockquote><p>\u201cIn terms of where we are with the project, we don\u2019t currently see a strong case for issuing it, but the world is progressing very rapidly and probably even more so in the wake of the pandemic.\u201d<\/p><\/blockquote>\n<p>Not only does the Bank of Canada not see a solid case for issuing a CBDC but also it has outlined a number of risks related to a state digital currency previously. In October 2020, the bank issued a report on CBDC-associated risks, paying special attention to threats arising from CBDC storage issues and competition between crypto exchanges and banks in terms of attracting users.<\/p>\n<p>Last December, Lane said that the global coronavirus pandemic could force\u00a0Canada to launch a CBDC sooner than originally expected. \u201cI would say that in the last nine months we\u2019ve seen developments that look like they\u2019re in the direction of some of those things coming to pass sooner than expected,\u201d he said in late 2020.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bank-of-canada-sees-no-strong-case-for-a-digital-dollar-for-now\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bank of Canada sees no strong case for a digital dollar \u2014 for now &#8221; The Bank of Canada does not see a strong reason for issuing a central bank digital currency, or CBDC at the moment. Timothy Lane, the Bank of Canada\u2019s deputy governor and head of research at the bank\u2019s fintech and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":260227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNjA5YjU2MzQtOTdkNC00ODUyLWI2OGQtYTkyM2M0Y2ZiZTFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75934,75046,75022,75159,71939,22974,4965],"class_list":["post-260226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-canada","tag-cbdc","tag-central-bank","tag-digital-currency","tag-banks","tag-canada","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=260226"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/260227"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=260226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=260226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=260226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}