- BOJ has been working on this for the last two years.
- Uchida also intends to achieve better designs via conversations with private enterprises.
Many nations increased their work on central bank digital currency (ЦБДЦ) in the middle of 2022’s brutal bear market. Now, it seems that Japan is also heading on a similar path. It was recently announced that the Japan CBDC, or digital yen pilot programme, is scheduled to launch in April.
Важно је запамтити да је БОЈ has been working on this for the last two years. To think about how to introduce the CBDC is part of this. The bank’s most recent action, testing the CBDC, may help it choose when to officially introduce the product.
BOJ Executive Director Схиницхи Уцхида изјавио:
„Ако би се ЦБДЦ издао у будућности, истраживање његовог оквира на тако фазни начин и ангажовање у веома транспарентној комуникацији са приватним сектором су неопходни кораци које треба предузети за усвајање у друштву.
Catching Up With China
Uchida also intends to achieve better designs via conversations with private enterprises through this approach. Uchida claims that the BOJ would treat the pilot programme as a real-world experiment by simulating interactions with commercial financial institutions. Yet, the bank has zero intentions to initiate any kind of inter-store or customer-banking operations.
Japan is rushing through the CBDC process for one main reason: it wants to catch up to China. Government officials in China were among the first to work on CBDC. And the nation is already using the digital money known as е-ЦНИ. Japan is apparently striving to catch up to China in the worldwide CBDC competition.
Source: https://thenewscrypto.com/japan-all-set-to-launch-cbdc-pilot-program-in-april-this-year/