THE ISSUANCE OF A NATIONAL CRYPTOCURRENCY IN CANADA WOULD IMPROVE THE ECONOMY OF THE COUNTRY
Today I bring you some very interesting news, this time from one of the senior economists of the Bank of Canada, S. Mohammad R. Davoodalhosseini.
In his last statement Davoodalhosseini indicated that the introduction of a cryptocurrency of the Central Bank of Canada will increase the volume of consumption of Canada and the US, as well as a greater level of flexibility in the current monetary policy.
Countries that have already implemented a national cryptocurrency or are studying it are: Iran, Venezuela, Turkey, Dubai, Kazakhstan, Japan and Estonia.
In the case of Canada there is no official declaration of creation of its own national cryptocurrency. But this latest news from one of the senior economists at the Bank of Canada suggests that just as other countries have already issued their own national cryptocurrency, Canada will also be one of the countries that issues its own cryptocurrency.
The report recently published by Davoodalhosseini indicates that a cryptocurrency issued by the Central Bank of Canada could bring an increase in the volume of consumption and potential profits for the economic well-being of Canada and the United States.
At this time the debate is focused on whether the current cash and a digital form of fiduciary currency should coexist and how would be the best way to do it. The conclusions so far on the debate indicate that it would be best to replace the cash that is in circulation with a new digital currency issued by the government, arguing that this change would improve the economic welfare of both Canada and the United States.
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