The Central Bank of Canada has no plans to launch a CBDC yet.
However, the deputy head of the Central Bank Timothy Lane has already promised that the regulator’s token will be much more environmentally friendly than bitcoin. If the largest cryptocurrency causes huge harm to the environment and is a speculative instrument, then the CBDC of Canada will rely on the national currency and will not harm the environment.
Speaking at a conference organized by the Canadian Chamber of Commerce, Timothy Lane said that the mining of a token pegged to the national currency is likely to proceed in the same way as Bitcoin mining.
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The Central Bank intends to transfer all computing power to environmentally friendly energy sources. Thus, CBDC will be a counterweight to Bitcoin and Ether in the full sense of the word.
Note that the issue of the environmental friendliness of mining has been periodically raised by many experts over the past years. This problem was sharply exacerbated after Elon Musk announced on Twitter that Tesla would stop selling electric cars for BTC. The company motivates its decision by the fact that the mining of cryptocurrency is harmful to the environment.
After that, Musk, with a group of enthusiasts, even established a so-called council of miners, designed to accelerate the transition of crypto mining to “clean” energy sources.