It is expected that a private demonstration experiment of "digital currency", which is supposed to be traded through smartphones instead of bills and coins, will start by the end of March next year.
If it is put into practical use, it is expected that it will lead to more efficient settlement and remittance between companies, and the progress of the experiment will be watched.
"Digital currency" is electronic money that can be used in the same way as bills and coins in circulation, and about 70 companies including major banks, telecommunications companies, and companies that handle crypto assets are considering issuing it. The corporate alliance held a press conference on the 24th and announced that it would start a demonstration experiment by the end of March next year.
It is assumed that the digital currency for which the experiment will be conducted will be issued mainly by banks, denominated in yen, and the minimum unit of transaction will be 1 yen, and will be used at the same value as ordinary money.
The experiment will be carried out in fields such as personal use such as charging electronic money and remittance between companies associated with buying and selling electric power.
Digital currencies are expected to reduce the cost of payments and remittances between companies, as well as improve the efficiency of procedures.
For this reason, the corporate alliance has decided to verify the necessary costs and aims to put it into practical use next year.
Research on digital currencies has been carried out by the Bank of Japan and other central banks around the world. The movement toward future issuance is accelerating.