According to Cointelegraph, a Bank of Canada discussion paper has explored the challenges central banks may face in creating an inclusive central bank digital currency (CBDC). The paper identified three types of inclusion necessary for a universally accessible payment method: financial inclusion, digital inclusion, and practical accessibility. The authors argue that the number of individuals who face barriers or exclusion is much larger than previously assumed, and that all three aspects of accessibility must be accounted for to avoid disadvantaging certain groups.
For example, members of the First Nations in Canada live on average much further from financial institutions than other Canadians, and their financial inclusion would depend on digital inclusion. Financial literacy and ease of use are also important factors, as well as cognitive load and usability issues, which may grow as the population ages. Disabled people may also experience greater difficulty in using the technology. The authors argue that the challenge lies in the delivery of services, rather than the nature of CBDC itself, and overcoming these challenges will require central banks to face problems that would otherwise be considered far from their scope of interest.