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Canada Launch Its Own Digital Currency to Replace Fiat Currency

As per Tuesday, Oct 15th report, Bank of Canada plans to launch its own Digital Currency. With this digital currency, Canadian Government aims to replace fiat currency. The report further explains that the coin will be globally available. It will initially coexist with paper money and other coins and will then replace them completely. The digital transaction will help the government to keep track of money spending. 

Governor Stephen Poloz introduced this proposal in a presentation titled “Central Bank Money: The Next Generation” to The Logic. Canada is not alone, even China and Bhutan have introduced their digital currency earlier.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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