Smart Cards are really effective when everyone has it.
Like in Hong Kong.
I don't see it working as well in Vancouver as it can in Hong Kong.
People here have the need to drive because its so easy to obtain, its faster and its cheap.
Therefore not everyone will own a smart card thus Translink will need to setup Two separate fare systems the entire time and it'll just be a mess.
I know Hong Kong also has two system, card and ticket, but most of the residences own one.
Here, I would say only 40% will get one thus its not feasible to implement.