By: Hasti Pourriahi
Matter Commented On: Bank of Canada Public Consultation and the Digital Divide
PDF Version: Bridging the Digital Divide: Encouraging Societal Participation in the Face of an Increasingly Digital World
The Bank of Canada’s pursuit to introduce a digital Canadian dollar is often prefaced by reference to the necessity of this development, should digital currencies issued by other countries become widespread enough that they begin compromising centrally issued currencies. Most recently, in May of 2023, a public consultation was launched around a potential central bank digital currency (CBDC) which accepted responses until June 19, 2023. The Bank of Canada recognizes that a decline in cash use could leave groups of Canadians financially excluded, especially considering ongoing unequal levels of access to technological resources and advancements.