{"id":20676,"date":"2019-12-05T12:39:47","date_gmt":"2019-12-05T11:39:47","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=20676"},"modified":"2019-12-05T12:39:47","modified_gmt":"2019-12-05T11:39:47","slug":"japan-does-not-need-any-central-bank-baked-digital-currency-says-bank-of-japan-governor","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/japan-does-not-need-any-central-bank-baked-digital-currency-says-bank-of-japan-governor\/","title":{"rendered":"Japan Does Not Need any Central Bank-Baked Digital Currency, Says Bank of Japan Governor"},"content":{"rendered":"
According to a <\/span>press release<\/span><\/a><\/strong> published by the Bank of Japan (BOJ) on December 4, the governor <\/span>Haruhiko Kuroda<\/span><\/a><\/strong> said that, at the moment, there was no demand of central bank-baked digital currency in Japan.<\/span><\/p>\n Kuroda was delivering at the symposium for the 35th anniversary of the Center for Financial Industry Information Systems. During his speech, he talked about the role central banks in payment innovations and challenges posed by global stablecoin and central bank-baked digital currency (CDBC).<\/span><\/p>\n In the concluding remarks of his speech, he said that many central banks in European territory were working on issues surrounding possible public digital currency solutions in order to counter private sector initiatives in stablecoins<\/a><\/strong>. But in Japan, at present, there is no public demand for CBDC.<\/span><\/p>\n \u201cIn Japan, the amount of cash outstanding is still increasing, and it does not seem that there is a demand for CBDC from the public at present. Nevertheless, the Bank of Japan has been conducting technical and legal research on this matter in order to stand ready when the need for CBDC may arise in the future. The Bank also needs to study the impact of CBDCs on financial intermediation.\u201d<\/span><\/em><\/p>\n <\/p>\n