Canada: Staff Discussion Paper on Central Bank Digital Currency — Motivations and Implications

The Bank of Canada has published a report called "Central Bank Digital Currency: Motivations and Implications", which discusses the emergence of digital currencies and the possible impact it could have on the financial system and the wider economy. The report also addresses the question of whether a central bank should issue a digital currency that could be used by the general public.

Rapid technological developments have led to central banks considering whether they should provide digital currency to the public, extending the provision of reserves, currently accessible only to certain financial institutions, to the general public. This paper considers how a central bank digital currency (CBDC) can be established and function effectively.  

To continue reading please log in or request a demo to speak to a member of the team.