The Bank of Japan will begin substantive testing of digital currency it might one day issue as fears rise in the government and ruling Liberal Democratic Party that China could debut one first, posing a national security threat.
On July 20, a team of 10 or so members was formed within the central bank’s Payment and Settlement Systems Department to work on digital currency issues.
Consideration of a central bank digital currency (CBDC) will be handled as one of the top priority issues within the BOJ, said Takeshi Kimura, the central bank’s department director-general, in response to questions from The Asahi Shimbun.
Continue read: http://www.asahi.com/ajw/articles/13587771
