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Decoding E-Money Is Here

By: Graham Iddon


January 3, 2018
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The new Museum’s first special exhibition

In the Money exhibition

Our first travelling exhibition was In The Money, which premiered in our old space in 2013.

Voices from the Engraver exhibition

Next on tour was Voices from the Engraver, shown here at the Sherbrooke Nature and Science Museum.

Unlike renovating a house, when we closed the Museum for its four-year re-invention, we couldn’t just “stay” at another museum until the water got turned back on. Or could we have? In fact, once the renovation was under way, that’s essentially what we did. Though we didn’t sleep on anybody’s couch, we did create a travelling exhibitions program to keep the virtual doors open while the actual doors were closed. We stayed at museums from Kitimat, B.C., to Gimli, MB, and from Timmins, ON, to Chicoutimi, QC, and we still have a few bookings available for 2019. Now that we are again back in our own house, we’ve invited one of our wandering exhibitions home for a visit: Decoding E-Money.

Decoding E-Money electric sign

Decoding E-Money fits snugly in our exhibition space outside the entrance to the permanent galleries.

exhibition and seats

The exhibition relies on a lot of screens and was designed to be dark and immersive, as if you were inside the digital processes.

exhibition and artifact panels

The rear view shows the artifact zone—a nice, analog relief from the heavily digital zones.

As the title suggests, this exhibition aims to remove the confusion about what exactly e‑money is. It’s important to make the distinction between what people think of as e‑money and what, in fact, it is. In a backgrounder on its website, the Bank of Canada defines e‑money as

…monetary value that is stored and transferred electronically through a variety of means—a mobile phone, tablet, contactless card (or smart card), computer hard drive or servers.

Despite their fully electronic environments, debit cards, e‑mail transfers and credit cards are not examples of e‑money. They are methods of payment that follow electronic pathways along which transaction information travels. It might be more helpful to imagine e-money as money that has been withdrawn from a bank account and stuffed into an envelope waiting to be spent. The “envelope” just happens to be an electronic device.

subway style map with monitors

Our payments system map is a fun interactive that, with moving lights, shows you the route your money takes using five different payment methods.

boy at a colourful touch panel

Our hands-on timeline explores the relevant history of the money and technology that led to e-money.

kids sitting at a game kiosk

Up to four people at a time can test their knowledge of e-money and its technological background by playing a fun true-or-false game.

The version of e‑money we are most concerned with in this exhibition is cryptocurrency and, specifically, the ever-newsworthy Bitcoin. You can purchase it using your national currency, and it can be sold for currency, but in between it acts all by itself as a token of exchange that exists entirely online. Bitcoin doesn’t actually meet the criteria for a currency, but its underpinning technology, called the blockchain, is ground-breaking—a system that allows for secure transactions without third-party oversight. We studied it for you so that you can explore it too.

Like its mother museum, Decoding E‑money has a great number of interactive features. It is, fittingly, a very digital exhibition, with games, a timeline, videos and interpretive content all accessed using touch panels and computer consoles. The only significant part of the display that is not digital is the artifact zone, a breath of old-fashioned air in a very modern exhibition. Here, you will see money that was, in its day, as difficult for some to accept as digital currencies are today. To help visitors explore in-depth information about these artifacts, we provide you with a book, an appropriately low-tech medium.

three boys at a video game terminal

A fast-moving break from the exhibit is the cryptocurrency mining game. How fast can you find the right code?

inside of a blue kiosk

The big central cylinders are all about cryptocurrency.

So please drop by the Museum and check out Decoding E money. It will be in our special exhibitions space until May 6, 2018.

We want to hear from you! Do you have an idea for a blog post you’d like to see?
Content type(s): Blog posts

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The Museum Blog

March 30, 2020

The Fisher, the Photographer and the Five

By: Graham Iddon


There’s little doubt that the BCP45 is lovingly preserved today partly thanks to being immortalized on this beautiful blue five-dollar bill.
Content type(s): Blog posts
January 15, 2020

Where Futurists Feared to Tread

By: Graham Iddon


blueprint of a self-sustaining town ringed with working homes
Among the laser pistols, hover cars and androids of science fiction, there’s an elderly elephant in the room: money.
Content type(s): Blog posts
January 2, 2020

Wrap-up, 2019

By: Graham Iddon


The Bank of Canada Museum set some very ambitious goals at the end of 2018. We have managed to achieve more in one year than we had since we opened in 2017.
Content type(s): Blog posts
November 8, 2019

Private Atkinson’s War

By: Graham Iddon


Private Edward Atkinson’s example of trench art is what is called a “love token”—a souvenir made from a coin. It’s one man’s personal wartime experience expressed through a pocket-sized medium.
Content type(s): Blog posts
September 9, 2019

Bank Note/Billet de banque

By: Graham Iddon


The first Canadian paper money was issued in 1817, and for the next 120 years, the vast majority of Canadian bank notes were only in English.
Content type(s): Blog posts
July 8, 2019

Landscape Engraved

By: Graham Iddon


Retaining the landscape format but showing human activity and intervention transformed the imagery into an extended portrait of Canada and Canadians.
Content type(s): Blog posts
May 24, 2019

The Hunting of the Greenback

By: Graham Iddon


During World War Two, the Bank created the Foreign Exchange Control Board (FECB). One of its major tasks was to find as many US dollars as possible to pay for American imports.
Content type(s): Blog posts
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