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The delays mean all sorts of innovations are slower to arrive, said Vass Bednar, executive director of the Master of Public Policy in Digital Society at McMaster University. “We see them being hostile to progress that allows others to compete on a more even footing with them,” she said.The industry is simply concerned with making sure the government balances safety and security with competition and access, said Hannah at the bankers association.The tension between competition and security is seeing more focus these days following several high-profile bank failures including Silicon Valley Bank and Credit Suisse.
But while there is the potential for more competition ahead, more concentration is also on the horizon.
Do not allow a central bank digital currencies. You will own nothing.