A Bank of Canada discussion paper has questioned the usefulness of a central bank digital currency in addressing unmet payment needs in a cashless environment.
The central bank of Canada has been researching a digital loonie and what design elements would be relevant to citizens with various payment needs and circumstances over the past few years.
However, bank employees note in a recent paper that most Canadians do not encounter barriers to using a variety of payment methods, and that this would likely remain the case in a cashless society.
