What 100 Million ‘Unbanked’ Nigerians Can Teach Canadians About Central Bank Digital Currency

Despite credit cards, e-transfers, and online banking having already made money go pretty much digital, the Bank of Canada is busily working on a much bigger transformation. Canada is one of about 100 countries that—in uncanny synchronicity—several years ago joined the race toward retail central bank digital currency (CBDC).

Touted as the digital equivalent of cash, CBDC risks eroding the established banking system and, among many other problems, is likely to be vulnerable to hackers’ attacks which, should a foreign government use this as a tactic in “hybrid” warfare, might prove capable of destabilizing a target country’s economy.
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