DIGITAL YEN : JAPAN COULD LAUNCH CBDC IN 3 YEARS

According to Reuters, Kozo Yamamoto, Head of the banking and finance systems research commission at Japan’s ruling party, has proposed to create and launch a digital yen cryptocurrency within two to three years.

The Liberal Democratic Party legislator remarked that:

“The sooner the better. We’ll draft proposals to be included in government’s policy guidelines, and hopefully make it happen in two-to-three years… If each country manages to control flows of money with their own (digital) currencies, that could prevent a big swing at a time of crisis and stabilize their own economy.”

Read more @ Reuters

 

Author: Tetsushi Kajimoto

Source: Reuters

File Foto: Japan’s State Minister in charge of vitalizing local economies Kozo Yamamoto speaks in Tokyo, Japan, August 3, 2016. REUTERS/Kim Kyung-Hoon/File Photo