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120
result(s)
Security and convenience of a central bank digital currency
Staff Analytical Note 2020-21
Charles M. Kahn,
Francisco Rivadeneyra
An anonymous token-based central bank digital currency (CBDC) would pose certain security risks to users. These risks arise from how balances are aggregated, from their transactional use and from the competition between suppliers of aggregation solutions.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
G,
G2,
G21
2019 Cash Alternative Survey Results
Staff Discussion Paper 2020-8
Kim Huynh,
Gradon Nicholls,
Mitchell Nicholson
The role of cash in Canadians’ lives has been evolving, as innovations in digital payments have become more widely adopted over the past decade. We contribute to the Bank of Canada’s research on central bank digital currency by monitoring Canadians’ use of cash and their adoption of digital payment methods.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Central bank research,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O51
The Interplay of Financial Education, Financial Literacy, Financial Inclusion and Financial Stability: Any Lessons for the Current Big Tech Era?
Staff Working Paper 2020-32
Nicole Jonker,
Anneke Kosse
The objective of this paper is twofold. First, we assess whether financial education might be a suitable tool to promote the financial inclusion opportunities that big techs provide. Second, we study how this potential financial inclusion could impact financial stability.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Development economics,
Digital currencies and fintech,
Financial markets,
Financial services,
Financial stability
JEL Code(s):
D,
D1,
D14,
D9,
D91,
D92,
G,
G2,
G21,
G23,
O,
O1,
O16
Why Fixed Costs Matter for Proof-of-Work Based Cryptocurrencies
Staff Working Paper 2020-27
Rodney J. Garratt,
Maarten van Oordt
Can Bitcoin survive? Some say it will become vulnerable to attacks as the rewards for processing Bitcoin transactions continue to decline. The economics of fixed costs suggest the specialized hardware used to mine Bitcoin may be key to its survival.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Payment clearing and settlement systems
JEL Code(s):
G,
G1,
G10,
L,
L1,
L11
The potential effect of a central bank digital currency on deposit funding in Canada
Staff Analytical Note 2020-15
Alejandro García,
Bena Lands,
Xuezhi Liu,
Joshua Slive
A retail central bank digital currency denominated in Canadian dollars could, in theory, create competition for bank deposit funding.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Digital currencies and fintech,
Financial institutions,
Financial stability
JEL Code(s):
E,
E4,
E41,
E44,
E5,
G,
G1,
G10,
G17,
G2,
G21,
G3,
G32,
O
Cash and COVID-19: The impact of the pandemic on demand for and use of cash
Staff Discussion Paper 2020-6
Heng Chen,
Walter Engert,
Kim Huynh,
Gradon Nicholls,
Mitchell Nicholson,
Julia Zhu
Consumer spending declined significantly during the recent COVID-19 pandemic. This negative shock likely reduced spending across all methods of payment (cash, debit, credit, etc.). The mix of payment methods consumers use could also be affected. We study how the pandemic has influenced the demand for and use of cash. We also offer insights into the use of other payment methods, such as debit and credit cards.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Central bank research,
Coronavirus disease (COVID-19),
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O54
CBDC adoption and usage: some insights from field and laboratory experiments
Staff Analytical Note 2020-12
Janet Hua Jiang
This note discusses insights from historical launches of new payment methods and related laboratory experiments on the potential adoption and use of a central bank digital currency in the Canadian context.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
C,
C9,
E,
E4,
E5,
E58
Security of a CBDC
Staff Analytical Note 2020-11
Cyrus Minwalla
Security is an important element in ensuring public confidence in a central bank digital currency (CBDC). This note highlights the required security properties of a CBDC system and the challenges encountered with existing solutions, should the Bank of Canada choose to issue one.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
E,
E4,
E42,
E5,
E51,
O,
O3,
O31
Designing a CBDC for universal access
Staff Analytical Note 2020-10
John Miedema,
Cyrus Minwalla,
Martine Warren,
Dinesh Shah
If the Bank of Canada issues a central bank digital currency, the technology should be designed for universal access.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
E,
E4,
E41,
O,
O3,
O31