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Bank of Canada's Poloz says the bank are studying whether it makes sense to issue a digital currency

Bank of Canada's Poloz says the bank are studying whether it makes sense to issue a digital currency
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

The Governor of the  Bank of Canada has said that the central bank are looking into whether it makes sense to issue digital versions of their bank notes.

Canada have long been interested in digital currencies and there has been strong rumours that there have been trials in the nation.

Some news outlets have reported issues with privacy but the nation says the rationale behind the move is to make a safe alternative to what is out there at the moment.

They have admitted they would collect information about how the money is spent and Poloz was once recorded saying "we need to innovate to stay ahead of the game".

Just today ECB's Lagarde said the ECB will accelerate efforts of task force that studies digital currency. Lastly, she also referenced being behind stating a personal conviction is that the ECB should be ahead of the curve with digital currency, noting there is clearly a demand out there that the bank have to respond to.

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Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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