Japan Plans to Launch a CBDC Pilot in April
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The Bank of Japan intends to launch a pilot program to test the digital yen in April 2023.
The purpose of the stage is to test the “technical feasibility” of the CBDC and extend the experiment to ecosystem modeling with companies. There are no plans to make real transactions during the pilot.
The central bank has said it needed to consult with the private sector on alternative data models, architectures for offline payments, and other important design elements.
The first stage of experiments with the national digital currency started in Japan in the spring of 2021.
Hideki Murai, a spokesman for the ruling Liberal Democratic Party, said in July that the state would develop a more detailed draft CBDC by the end of 2022.
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