Bank of Canada paper proposes ‘expiry date’ on offline CBDC
CBDC could have expiry date to help consumers recover lost money, authors say
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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