Canadians generally have negative sentiment towards CBDC

Public consultation on the Bank of Canada's digital currency (CBDC) plan shows that Canadians overall have a negative sentiment, confirming the central bank's concerns about its adoption nationwide. In a survey of 89,423 respondents, nearly 95% had heard of or were familiar with the concept of a digital Canadian dollar. While awareness is a key factor in widespread adoption, this metric does not apply to Canada. 93% of respondents primarily use paper cash for daily transactions, but also use credit and debit cards as well as other online payment methods. In addition, only 15% of respondents hold Bitcoin and other cryptocurrencies. Most respondents suggest that the Bank of Canada should stop researching and developing the ability to issue a digital Canadian dollar. However, the public believes that the CBDC initiative will not consider their feedback.