Bank of Canada paper proposes ‘expiry date’ on offline CBDC


Adding an “expiry date” to offline central bank digital currency (CBDC) could increase demand for “digital cash”, research published by the Bank of Canada finds.

In the working paper, Charles Kahn, Maarten van Oordt and Yu Zhu note that physical cash allows people to retain access to payment instruments even without power or network access, for instance during natural disasters. For this reason, policy-makers are considering an option for CBDC to operate “offline”.

The problem with cash is

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