This working paper explores what the digital Canadian dollar project can learn from the digital euro and digital pound to cultivate a more user-focused approach, while remaining neutral on the question of its necessity. Development and public engagement strategies are highlighted. Insights from the United Kingdom are utilized to advocate for an ongoing consultation model, while the phased implementation approach of the European Union inspires transparency and expectations settings. The unique Canadian context for consumer protection is discussed, raising the need for new ways to deal with a payment landscape that includes a central bank digital currency. A significant focus is placed on responsible handling of personal data and clear regulatory processes and language, drawing from data-related expectations in the European Union and legislation concerns in the United Kingdom. The paper concludes with dedicated conclusion and recommendations sections. These sections emphasize that meaningful public participation should exist in both the technical design and regulatory processes. Recommendations span across five key areas, critical to the successful integration of the digital Canadian dollar within the fabric of society: developmental approach, engagement strategy, regulation and consumer protection, regulatory novelty and further research.
