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A central bank digital currency for offline payments

Author

Listed:
  • Cyrus Minwalla
  • John Miedema
  • Sebastian Hernandez
  • Alexandra Sutton-Lalani

Abstract

Offline functionality is a key consideration for a potential CBDC. We describe the different types of offline functionality based on their duration outside of network connection—either intermittent (for short periods) or extended (for longer periods). We discuss the advantages and drawbacks of each and consider implications for end-user devices, system resilience and universal accessibility.

Suggested Citation

  • Cyrus Minwalla & John Miedema & Sebastian Hernandez & Alexandra Sutton-Lalani, 2023. "A central bank digital currency for offline payments," Staff Analytical Notes 2023-2, Bank of Canada.
    • Handle: RePEc:bca:bocsan:23-2
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    File URL: https://www.bankofcanada.ca/2023/02/staff-analytical-note-2023-2/
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    More about this item

    Keywords

    Central bank research; Digital currencies and fintech;

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O - Economic Development, Innovation, Technological Change, and Growth
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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