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ARTICLE · 19 JUNE 2023

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Digitalization Of Payments And Currency

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On March 7, 2023, the Centre for International Governance Innovation (CIGI) and Bennett Jones LLP hosted a virtual workshop with international and Canadian experts, from the public and private sectors...

CanadaFinance and Banking
Bennett Jones LLP
Bennett Jones LLP
Serge Dupont
Serge Dupont
Jonathan Fried
Jonathan Fried
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Key Takeaways from a Third Virtual Workshop with Canadian and International Experts on the Digitalization of Money

Introduction

On March 7, 2023, the Centre for International Governance Innovation (CIGI) and Bennett Jones LLP hosted a virtual workshop with international and Canadian experts, from the public and private sectors as well as from academia, on international developments and the work required for Canada to keep pace with developments in the digitalization of payments and currency.

The discussion built on CIGI and Bennett Jones's previous work (Fay et al. 2021; 2022) convening experts to discuss the potential benefits and drawbacks of emerging central bank digital currencies (CBDCs) and the steps Canada would need to take if it chose to introduce such a payment instrument. Broadening the conversation beyond CBDCs, the workshop was organized around four topics at the centre of payments digitalization: payments system modernization, open banking,

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