Some technologists are telling the Bank of Canada that its wait-and-see approach when it comes to issuing digital currencies runs the risk of leaving it behind in the race to innovate globally.

A digital currency is any currency that exists exclusively in electronic form. Bitcoin is perhaps the world’s most well-known.

But Bitcoin is a decentralized cryptocurrency, meaning it isn’t controlled by a single entity.

A central bank digital currency, on the other hand, would be issued and managed by a central bank. Anne Gaviola has more.

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