From this spring, the Bank of Japan will start a demonstration experiment to confirm the function of "digital currency" that can be used in the same way as banknotes and coins.
China is leading the way in this field, and the central banks of each country are also conducting research, and the Bank of Japan wants to prepare to respond to changes in the international environment.
"Digital currency" is electronic money that can be used in the same way as banknotes and coins in circulation.
The Bank of Japan is in the position that it has no plans to issue it at this time, but it has decided to start a demonstration experiment this spring, which has stated that it aims to start early in the new year.
Positioning this demonstration experiment as the "first stage", it is said that it will confirm the basic functions related to the distribution and issuance of digital currencies, such as creating a ledger that records transaction history on the system in cooperation with private businesses. ..
The Bank of Japan plans to carry out the first stage demonstration experiment over a period of about one year, and based on the results, move to the "second stage" to verify the feasibility.
Regarding digital currencies, it is said that China is leading the way in this field, such as conducting a demonstration experiment with the participation of citizens toward the issuance of the "digital yuan".
Central banks in each country are also conducting research, and the Bank of Japan intends to prepare for changes in the international environment in order to ensure the stability of payment systems in the future.