Leaders at the Bank of Japan, Ministry of Finance, and Financial Services Agency have held a number of meetings to determine whether the country should become next in line to adopt a government-sanctioned digital currency.
The issues under discussion include how the Japanese government embracing a central bank digital currency would impact the world economy.
Despite the rise of numerous crypto exchanges, the U.S. dollar continues to be the de facto global currency.
Japan has always been a leader for cryptocurrencyAs the birthplace of cryptocurrency, Japan has often been ahead of the global pack when it comes to utilizing blockchain technology.
Its economy might well benefit most from adopting a digital currency.
The BOJ in particular plans to be prepared for issues related to Japan adopting a digital currency.
Other countries are well on their way to adopting digital currency.
The People's Bank of China began a two-year pilot program to assess digital yuan transactions.
Beijing has made it clear any digital currency in China would complement the yuan, not replace it.
The Bank of England, the European Central Bank, and central banks in Sweden, Canada, and Switzerland have announced they would conduct a joint study on digital currencies with the Bank for International Settlements.
Japan the Next Country to Mint a Digital Currency?
Publicado en Feb 24, 2020
by Cointele | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.