Japan’s Central Bank Plans to Begin Digital Currency Experiments

Japan Central Bank announced Monday that it has begun Planning for central bank digital currency (CBDC) experiments.

The first phase will focus on testing the basic functions of CBDC as a payment instrument, such as issuance, distribution, and redemption.

Phase 2 would test more detailed functions while phase 3 is that private businesses and end-users will participate in a pilot program.

They believe that CBDC will provide a means of payments and settlements.

Author: CryptoBoss

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