Browse all research or check out these related conferences.
Understanding the benefits and risks of digital currencies and electronic payments is important because new technologies and new players could affect the financial system. This in turn could influence how we work to fulfill our core functions. For this reason, we closely monitor fintech developments.
The Bank is conducting research related to a central bank digital currency (CBDC). This is part of its contingency planning to be ready to issue a CBDC in the future if the need were to arise.
Research by Bank staff is produced independently from the Bank’s Governing Council. It may therefore differ from official Bank views. The views expressed in research papers are solely those of the authors. No responsibility for them should be attributed to the Bank.
Latest research
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency
Staff Discussion Paper 2023-22
Alexandra Sutton-Lalani,
Sebastian Hernandez,
John Miedema,
Jiamin Dai,
Badr Omrane
We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
JEL Code(s):
A,
A1,
A14,
E,
E4,
E42,
E5,
E50,
I,
I3,
I31,
O,
O3,
O33,
O5,
O51
Anonymous Credentials: Secret-Free and Quantum-Safe
Staff Working Paper 2023-50
Raza Ali Kazmi,
Cyrus Minwalla
An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users’ privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Digital currencies and fintech,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
G,
G2,
G21,
O,
O3,
O31
Understanding DeFi Through the Lens of a Production-Network Model
Staff Working Paper 2023-42
Jonathan Chiu,
Thorsten Koeppl,
Hanna Yu,
Shengxing Zhang
We develop a production-network model to capture how decentralized finance (DeFi) has evolved across different sectors of financial services. The model allows us to measure the value added by different DeFi sectors and to study how the connections across the sectors influence token prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Payment clearing and settlement systems
JEL Code(s):
G,
G2
Latest conferences
November 19, 2015
Bank of Canada Conference held on November 19 and 20, 2015.
Electronic Money and Payments
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech
October 26, 2015
Bank of Canada Conference held on October 26, 2015.
Payments System Modernization: Opportunities & Challenges
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech