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Does Canada really need a digital loonie?

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The Bank of Canada is wading into the fraught and controversial world of digital currencies, launching public consultations this week into how Canadians might use a digital dollar. 

“We’ve been researching a digital dollar for quite a while now,” said Carolyn Rogers, the senior deputy governor of the central bank. “And we’re at a point where we need help from Canadians, we need to understand what Canadians want.”

And yet the bank maintains there is neither a need nor a plan to launch a digital loonie.

So, why bother with the public consultations at all?

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Rogers says more transactions are being done digitally. Only about 20

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