Central banks around the world are not indifferent. With the development of the latest digital currency issued by a central bank (CBDC), “Japan” has updated its progress. preparing for “Digital Yen” trial use with 3 banks next year but still not sure what year it will actually be released
Recent reports reveal that the Bank of Japan (BoJ) has joined three of the country’s largest banks and several private entities in a digital yen trial. It will start during the spring of 2023, or around March-June, and will be trialled for two years before deciding again in 2026 whether it will be introduced.
this test will take place after the central bank of Japan. It has completed the second phase of the CBDC trial, which started in April this year and will run for one year, ending in March next year.
* Related News : Bank of Japan wants to gradually test ‘Digital Yen’
Although it has not yet been decided when it will actually be released. But it is a good prediction of central bank digital currency developments. That there are many countries around the world that do not ignore the changes in technology.
China is the most developed country in this regard. And there is a trial. “Digital yuan” has been widely spread in many cities. But it is not published for actual use in any way.
central bank of india Preparing to start pilot trial of “Digital Rupee” in partnership with major local banks and Bank of India in December.
The New York Branch of the Federal Reserve (Fed) joins a number of major banks. Launch of a proof-of-concept project for a regulated digital asset settlement platform starting with the dollar as the first digital token. It will take a total of 12 weeks.
*Related News: New York Fed Launches Digital Dollar Proof-of-Concept Project
as in Thailand which is about to experiment with a digital baht With a test population of 10,000 and three private financial institutions, it will run from late 2022 to mid-2023.
* Related news: BOT will test using a “digital bath” at the end of the year”65, testing 10,000 people
Soon, at the event Blockchain Thailand Genesis2022, the executive of the central bank will give a lecture on the topic “How can CBDCs solve problems in the traditional financial system? By “Kasidis Tansanguan” Director of the Corporate Strategy Group of the Bank of Thailand (BOT)
Source: Reuters cointelegraph