https://www.atlanticcouncil.org/cbdctracker/
What exactly is a Central Bank Digital Currency (CBDC)? A CBDC is virtual money backed and issued by a central bank. As cryptocurrencies and stablecoins have become more popular, the world’s central banks have realized that they need to provide an alternative—or let the future of money pass them by.
Hover over a country to see their status. Click on a country to learn more.
April 2021
Dec 2022
Just hover over different countries and you will see the progression of what will be a more dystopian world (if at even possible)..
It's possible.
Timeline
Canada has been researching a digital currency since 2017. In December 2020, Timothy Lane, the Bank of Canada Deputy Governor in charge of financial technology, stated that COVID-19 may expedite Canada’s need for a central bank digital currency (CBDC). As recently as late May 2021, Lane said that any digital currency the Bank of Canada may offer would be more environmentally friendly than Bitcoin. He shared that the central bank has been studying environmental impacts as part of research on a potential CBDC. The BoC does not have immediate plans of launching a CBDC. In March 2022, it was announced that the Bank of Canada was entering into a partnership with MIT's Digital Currency Initiative, which would help inform the policy outcomes around a Canadian CBDC. The BoC outlined technological infrastructures underlying existing retail CBDCs in a September 2022 staff note and launched a public consultation process in November.
Cross-border Projects
The BoC also has a significant footprint in cross-border testing of wholesale CBDCs. In 2017, it launched Project Jasper, which concluded with four phases, and included cross-border testing with the Bank of England and the Monetary Authority of Singapore. The BoC is also a part of the Bank for International Settlements’s group of 7, which includes the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank, and the Swiss National Bank, collaborating on their work on retail CBDCs.
Motivations
As per the BoC’s 2020 paper, the primary motivations for issuing a CBDC would be a sufficiently cashless economy which could make the use of the Canadian dollar in its physical form limited, and the possibility of the Canadian dollar facing competition from an alternative digital currency.
In order to bring back 'dirty' cash while it's "legal", created a shortage of that currency and swapped it out with digital tracked 'currency' notes. Neil is noting that BRICS nations are way ahead and have been building gold supplies to at least bring some credibility to their own currency. I know the gold price is being smacked down with more US rate hikes, but as usual look at the over-all picture or macro!
Stay sharp people, and you might have a small edge over the other plebs walking straight into their own digital gulag.