Japan May Start Testing its CBDC Soon
Japan still isn’t sure whether they need a national cryptocurrency at the moment but they are willing to try how it works. In Asia, the idea of issuing CBDCs spreads like a virus, and Japan doesn’t want to feel missed out. They prefer to be ready when the right moment to implement it comes.
A Japanese governor Haruhiko Kuroda thinks that it’s important to keep up with the changes and technical innovations in the world. He feels it coming as many countries do research on CBDCs and some even already work to implement them. China is the one who already tests their digital currency; they also work together with Hong Kong, Thailand and the United Arab Emirates on a CBDC bridge for cross-border payments.
As shown by the recent survey, 86% central banks from all over the world are interested in issuing their own CBDC, and 60% already work on it. Japan doesn’t hold back; they work together with European bank on the DLT technology in a so-called Project Stella.