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BOJ Seeks More Public Support Before Testing Digital Currency
Summary: After announcing the testing of a digital yen next year, the Bank of Japan (BOJ) has stated that it would need more support from the Japanese public before going forward, according to Bloomberg. In the wake of the People's Bank of China's recent testing of the digital yuan, the department head of the BOJ's payment ...
After announcing the testing of a digital yen next year, the Bank of Japan (BOJ) has stated that it would need more support from the Japanese public before going forward, according to Bloomberg. In the wake of the People's Bank of China's recent testing of the digital yuan, the department head of the BOJ's payment system, Kazushige Kamiyama, emphasizes the need to "diligently study" the mechainsms and implications of digital currency before beginning such testing in Japan.
While some have posited that the launch of digital currency, particularly digital bank notes, in Japan could change monetary policy and curb deflation, Kamiyama stresses that digital currency would be used alongside bank notes and would simply be a vehicle for increasing the efficiency of Japanese payment systems, rather than having an impact on policy.
By Isaac Goluboff
Tags: BOJ,Digital Yuan,PBoC,Yen
Link: BOJ Seeks More Public Support Before Testing Digital Currency [Copy]
