Digital currencies and fintech - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:44:25+00:00Central Bank Digital Currency: Motivations and Implications
https://www.bankofcanada.ca/2017/11/staff-discussion-paper-2017-16/
The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy.2017-11-30T08:11:42+00:00enCentral Bank Digital Currency: Motivations and Implications2017-11-30Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2017-16https://www.bankofcanada.ca/wp-content/uploads/2017/11/sdp2017-16.pdfCentral Bank Digital Currency: Motivations and ImplicationsWalter EngertBen FungNovember 2017EE4E41E42E5Acceptance and Use of Payments at the Point of Sale in Canada
https://www.bankofcanada.ca/wp-content/uploads/2017/11/boc-review-autumn2017-fung.pdf
Merchants universally accept cash. Consumers widely hold cash but also carry debit and credit cards. The cost of using a method of payment has only a small influence on which method consumers use. Large merchants accept all payments, while only two-thirds of small and medium-sized businesses accept credit cards. Merchants report that credit cards are the costliest payment method compared with cash and debit cards. However, costs are not the only consideration. Merchant acceptance of credit accounts for the many con-sumers that want to use credit cards. This interaction between consumers and merchants is known as network externalities.2017-11-16T12:22:59+00:00enAcceptance and Use of Payments at the Point of Sale in Canada2017-11-16