CIGI WORKSHOP: DIGITALIZATION OF PAYMENTS AND CURRENCY
The workshop focused on four elements of the financial system: payments, open banking, stablecoins and retail CBDCs. Starting again with lessons from policy innovation, experiments and analysis in other jurisdictions, the workshop asked a number of questions for Canada: To what extent should developments in these areas be seen as complements and necessary to lay the groundwork for a coherent system of digital money? What new risks may arise and what are the necessary safeguards that need to be put in place? Which ones should be prioritized and what trade-offs will be required? What are the consequences for regulators?
This video contains the opening remarks from The Honourable Colin Deacon, Independent Senator, Nova Scotia.