Canada’s Real-Time Rail (RTR) payment system launches in Q3 2026, promising instant payments—but bringing far more than convenience. Built on ISO 20022 standards, every transaction becomes data-rich, linking purchases to identity, location, and purpose. This system lays the groundwork for CBDCs, digital ID integration, and programmable money that can restrict spending. As cash fades, financial activity moves onto a permissioned ledger, raising serious questions about privacy, control, and how Canadians can prepare.
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