Japan has announced that it will launch a Central Bank Digital Currency as part of a pilot project.
The CBDC will be presented as soon as this April.
The Central Bank of Japan will not conduct real transactions using the CBC, and will instead simply test simulated transactions.
- According to the institution, the goal of this pilot program is to:
- test the technical feasibility not fully covered by the PoCs,
- and to utilize the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation.
- The Bank stated that if a CBDC were to be issued in the future, exploring its framework in a phased manner and engaging in highly transparent communication with the private sector are necessary steps to take for it to be adopted fully.
