The Canadian City of Calgary launches its own digital currency

The Calgary digital dollar is an endeavor to bolster the local economy

It’s been a painstakingly agonizing year for the Crypto bulls — Ask anyone who had invested in the decentralized digital currencies at the beginning of the year or late last year when the cryptocurrencies were peaking only to see their investments take a nosedive throughout the year. Having said that though, the general Crypto adoption & institutional support and investment has seen a contradictory upswing.

There are still regulatory issues that need to be sorted out but everybody agrees unanimously that the innovative spirit the whole Blockchain/Crypto movement has sparked should not be curtailed with proper safeguards for the general investor.

While the Central banks in many jurisdictions have been toying with the idea of CBDC’s (Central Bank Digital Currencies), it seems we are still a few years away from seeing a central bank-issued digital currency (with the exception of Venezuela’s Petro), other projects like Stable Coins & locally issued digital currencies are gaining traction. In a bold move, the Canadian city of Calgary in the Province of Alberta has recently launched its own ‘Calgary Digital Dollar.’