Aiming to utilize digital currency for benefits To the demonstration experiment by the end of this month

It turned out that a demonstration experiment of "digital currency", an electronic money that replaces bills and coins, will be conducted later this month.

It means verifying a mechanism to receive benefits from local governments immediately.

According to the people concerned, this demonstration experiment will be conducted in Aizuwakamatsu City, Fukushima Prefecture and Kesennuma City, Miyagi Prefecture by a corporate alliance in which more than 70 companies such as major banks and telecommunications companies participate.

The demonstration experiment is based on the assumption that digital currency will be used for benefits for child-rearing households, and if the target residents download and apply for a dedicated app, they will be able to receive the digital currency immediately.

The received digital currency can be used as a coupon to purchase child-rearing supplies.

In the experiment, city officials will play the roles of residents and stores, and it is expected that it will be held later this month, and we will verify the ease of use.

If digital currency can be used for these benefits, it is expected that it will lead to prompt benefits and reduction of municipal office expenses.

The corporate alliance is aiming for practical application in the new fiscal year and 2022, and will conduct a demonstration experiment in a more realistic form from next month onward.

The digital currency for which the implementation experiment is conducted

The digital currency for which the demonstration experiment will be conducted this time is called "DCJPY", and the development is being promoted under the initiative of the private sector.

The issuer is a bank, and it is assumed that the minimum unit of transaction is 1 yen and it will be used at the same value as ordinary money.

In this demonstration experiment, it is assumed that digital currency will be used for benefits for child-rearing households, but the government has set income restrictions on the benefits of 100,000 yen for those under the age of 18. If you combine cash and coupons, the office expenses will be huge and it will take time and effort, and the local government has repelled.

Digital currencies are expected to be used for various payments, but if digital currencies can be used for these benefits, it is expected that there will be benefits that will lead to prompt benefits and reduction of office expenses. ..

Research on digital currencies issued by central banks is also underway in each country, and it is said that China is taking the lead in putting it into practical use, such as making the "Digital RMB" available at the venue of the Beijing Olympics. ..

This month, US President Joe Biden instructed government agencies to expedite research and technological development to verify the possibility of issuing a "digital dollar," and the Bank of Japan is also conducting a demonstration experiment.