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26 July 2021

Study suggests Canadian CBDC could promote digital innovation within the country

Study suggests Canadian CBDC could promote digital innovation within the country


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A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC.

That a CBDC could potentially support smart contracts was also a point of interest, as they could increase the speed and accuracy of execution by automating actions that are typically done manually.

Participants felt that smart contracts would create some risk for users however, given that smart contract developers would likely be independent from the bank’s CBDC platform.

They advised that smart contracts, as well as the programmability of a Canadian CBDC, would need to be studied further before implementation is decided.

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cointelegraph.com
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