Digital currencies and fintech

• Should the Central Bank Issue E-money?

  Staff Working Paper 2018-58 Charles M. Kahn, Francisco Rivadeneyra, Tsz-Nga Wong

  Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E51, E58
• November 15, 2018

  The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments

  This joint press release describes a preliminary report on the findings of the fourth phase of the Project Jasper research initiative.

  Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
• October 25, 2018

  Money for Nothing? A Central Banker’s Take on Cryptoassets

  Presentation Carolyn A. Wilkins Princeton University Princeton, New Jersey

  Senior Deputy Governor Carolyn A. Wilkins discusses cryptoassets and the key questions they pose for central banks.

  Content Type(s): Press, Speeches and appearances, Presentations Topic(s): Digital currencies and fintech
• October 22, 2018

  Payments Canada, the Bank of Canada, TMX Group, Accenture and R3 publish report about the feasibility of equity settlement through Distributed Ledger Technology

  This joint press release describes a new report on the findings of the third phase of the Project Jasper research initiative.

  Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
• October 16, 2018

  Navigating digital disruption and the economy

  

  Eric Santor

  Technology can enhance efficiency and help create new jobs, but challenges like automation's impact on employment also need careful consideration and proactive solutions.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Central bank research, Digital currencies and fintech, Digitalization, Economic models, Labour markets, Market structure and pricing, Productivity, Recent economic and financial developments, Service sector

• Is a Cashless Society Problematic?

  Staff Discussion Paper 2018-12 Walter Engert, Ben Fung, Scott Hendry

  The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42, E5
• October 1, 2018

  Decrypting “Crypto”

  Remarks Timothy Lane Haskayne School of Business - University of Calgary Calgary, Alberta

  Deputy Governor Timothy Lane discusses the Bank of Canada’s research and responses to public interest in cryptocurrencies.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Cryptoassets, Cryptocurrencies, Digital currencies and fintech, Financial stability

• Blockchain-Based Settlement for Asset Trading

  Staff Working Paper 2018-45 Jonathan Chiu, Thorsten Koeppl

  Can securities be settled on a blockchain and, if so, what are the gains relative to existing settlement systems? We consider a blockchain that ensures delivery versus payment by linking transfers of assets with payments and operates using a proof-of-work protocol. The main benefit of a blockchain is faster and more flexible settlement, whereas the challenge is to avoid settlement fails when participants fork the chain to get rid of trading losses.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Economic models, Financial markets, Payment clearing and settlement systems JEL Code(s): G, G2, H, H4, P, P4, P43

• Central Bank Digital Currency and Monetary Policy

  Staff Working Paper 2018-36 Mohammad Davoodalhosseini

  Many central banks are contemplating whether to issue central bank digital currency. This piece explores the implications as well as potential motivators of such a step.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Monetary policy JEL Code(s): E, E4, E42, E5, E50

• Incentive Compatibility on the Blockchain

  Staff Working Paper 2018-34 Jonathan Chiu, Thorsten Koeppl

  A blockchain is a digital ledger that keeps track of a record of ownership without the need for a designated party to update and enforce changes to the record. The updating of the ledger is done directly by the users of the blockchain and is traditionally governed by a proof-of-work (PoW) protocol.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Economic models, Payment clearing and settlement systems JEL Code(s): G, G2, H, H4, P, P4, P43