June 13, 2018
Digital currencies and fintech
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May 11, 2018
Payments Canada, the Bank of Canada, TMX Group, Accenture and R3 Demonstrate Feasibility of Instantaneous Equity Settlement through Distributed Ledger Technology
This joint press release describes the preliminary findings of the third phase of the Project Jasper research initiative. -
A Policy Framework for E-Money: A Report on Bank of Canada Research
We present a policy framework for electronic money and payments. The framework poses a set of positive questions related to the areas of responsibility of central banks: payments systems, monetary policy and financial stability. The questions are posed to four broad forms of e-money: privately or publicly issued, and with centralized or decentralized verification of transactions. This framework is intended to help evaluate the trade-offs that central banks face in the decision to issue new forms of e-money. -
March 22, 2018
Financial Stability: Taking Care of Unfinished Business
Senior Deputy Governor Carolyn A. Wilkins discusses three areas in which work remains to be done to improve financial stability. -
Blockchain Revolution Without the Blockchain
The technology behind blockchain has attracted a lot of attention. However, this technology is for the most part not well understood. There is no consensus on what benefits it may bring or on how it may fail. -
Merchant Acceptance of Cash and Credit Cards at the Point of Sale
Recent data show that the use of credit cards in Canada has been increasing, while the use of cash has been declining. At the same time, only two-thirds of small or medium-sized businesses accept credit cards. -
December 14, 2017
Three Things Keeping Me Awake at Night
Governor Stephen S. Poloz discusses his long-term economic preoccupations now that the Canadian economy has nearly completed its journey home. -
Bitcoin Awareness and Usage in Canada
There has been tremendous discussion of Bitcoin, digital currencies and FinTech. However, there is limited empirical evidence of Bitcoin’s adoption and usage. We propose a methodology to collect a nationally representative sample using the Bitcoin Omnibus Survey (BTCOS) to track the ubiquity and usage of Bitcoin in Canada. -
Competing Currencies in the Laboratory
We investigate competition between two intrinsically worthless currencies as a result of decentralized interactions between human subjects. We design a laboratory experiment based on a simple two-country, two-currency search model to study factors that affect circulation patterns and equilibrium selection. -
Central Bank Digital Currency: Motivations and Implications
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.