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Offline CBDC cold boost financial inclusion and privacy - Bank of Canada

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Canada's central bank has spent the last few years carrying out research into a digital dollar and what design features would be relevant to citizens with diverse payment needs and circumstances.

In a new staff analytical note, the bank says that while there has been huge progress in digital payments, little has changed for offline transactions, with physical money the only commonly used method that does not require an internet connection.

Researchers have been investigating two types of offline CBDC: intermittent and extended. The first would allow users to transact during shorter, intermittent offline periods when the internet is temporarily unavailable.

The latter would allow for payments when an internet connection is persistently unavailable or undesirable and wold require some form of hardware.

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