Bank of Japan Will Begin Experimenting With a Digital Yen

[Tnoy30]

The Bank of Japan announced on Thursday that it would experiment with a CBDC to check its feasibility from a technical perspective.
The Bank of Japan has announced it will begin experimenting with a central bank digital currency (CBDC) to check its feasibility from a technical perspective.

BoJ wants to digitize cash but it remains to be seen if Japan can catch up with China which has already begun testing its own CBDC. This is the first time the BoJ has revealed it would commence a Proof of Concept (PoC) process with the digital yen but the bank is yet to reveal a timetable.
Read on: https://cointelegraph.com/news/bank-of-japan-will-begin-experimenting-with-a-digital-yen

[Delgado]

Japan was the first state to legalize cryptocurrency in April 2017. However, now this state is already lagging behind other states in issuing its national stablecoin. Of course, the government wants access to its digitized yen without a smartphone, and without electricity and in the face of various economic disasters. Well, let them work. Something similar is being developed in China with the yuan.