Source: off-guardian.org (via BlacklistedNews)
A joint project between the Central Bank of Canada and the Massachusetts Institute of Technology will be researching the possibility of an entirely digital Canadian dollar, it was announced yesterday.
The digital dollar would be a state-issued cryptocurrency, or “central bank digital currency” (CBDC). (For more detail on CBDCs and how they work, you can read our previous article here.)
It’s not just Canada – countries from all around the world appear to be accelerating the research and implementation of CBDCs as we enter the second quarter of 2022.
In our New Years post, OffG hypothesized that the introduction of central bank digital currencies would be a major news thread of 2022, and that prediction looks to be coming true before winter has even turned into spring.
Dozens of others are not far behind, including the US, UK and the entire Eurozone. Sweden’s “e-Krona” is currently in the testing phase. Joe Biden has called research into CBDCs a matter of “highest urgency”.
Ukraine is right at the forefront of CBDC research and has been prepping for such since 2016. There were plans to implement one later this year, though it’s possible the war has changed them.
China was already leading the race to total digitalization of their currency, and have used the “vulnerability to Western sanctions” as an excuse to push ahead even harder.
India, South Africa, Malaysia…the list goes on and on.
In short, pretty much the whole world has been at least considering the move to entirely digital money….