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Thursday

22 April 2021

Japanese Central Banks Begins Study for Digital Yen - Decrypt

Japanese Central Banks Begins Study for Digital Yen - Decrypt


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The Bank of Japan—the country’s central bank—today launchedthe first phase of a feasibility study for its central bank digital currency (CBDC).

Shinichi Uchida, executive director of the bank, said in a statement last month that some people questioned whether people could use cash and bank accounts instead, and others wondered if potential cases for a CBDC ”could be addressed by alternative solutions that did not require such extensive and large-scale efforts.”.

The Bank of England, for instance, last month said that a central bank digital currency (CBDC) would need to be “very carefully” designed and could present “significant challenges” when introduced

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