Japan Working on a National Digital Currency

Japan Working on a National Digital Currency

Ruling party lawmakers in Japan are reportedly working on a proposal to issue a national digital currency. This appears to be a response to fears of a Chinese digital yuan. The planned digital yen would be jointly developed by the government and private companies. Deploying the digital yen will take some time due to Japan’s late start.

The decision represents a cardinal change for the country, whose central bank representatives saw “no demand” for a central bank digital currency (CBDC) as late as December 2019.

Japan is really trying to Key into the future with the idea of a digital currency. This will also make them to develop their Blockchain Technology and these two recent technologies are the future. I suggest that Africans consider this too.

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