00000nam 2200000za 4500 9.863415 CaOODSP 20221107161254 cr ||||||||||| 180926s2018 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-6/2018-12E-PDF Engert, Walter. Is a cashless society problematic? [electronic resource] / by Walter Engert, Ben S.C. Fung and Scott Hendry. [Ottawa] : Bank of Canada, 2018. 31 p. : col. charts. Bank of Canada staff discussion paper, 1914-0568 ; 2018-12 "October 2018." Includes bibliographical references (p. 22-23). "The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. This paper considers the implications of the abandonment of the use of cash in the future. More specifically, we look at a variety of ways in which the emergence of a cashless society could affect key concerns of a central bank, including seigniorage, monetary policy, payments and financial stability considerations. We find that a cashless society would not generally cause material, system-wide problems. There are a few areas, however, where concerns could emerge: the maintenance of both operational reliability and contestability in retail payments, and the provision of a safe store of value in an (extreme) financial crisis. We note policy options to address these potential concerns"--Abstract, p. ii. Includes abstract in French. Currency Electronic funds transfers Fung, Ben S. C. Hendry, Scott. Bank of Canada. Staff discussion paper (Bank of Canada) 1914-0568 ; 2018-12. (CaOODSP)9.806273 PDF 1.66 MB https://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-6-2018-12-eng.pdf