Bank of Japan Appoints Top Economist to Head Up CBDC Research Team

CoinTelegraph

The Bank of Japan has appointed its top economist to lead a team tasked with accelerating its research into central bank digital currencies (CBDC).

According to a July 31 Reuters report, Kazushige Kamiyama’s appointment may mark a shift away from the bank’s previously cautious nature on digital currencies.

How To Get Free Crypto  

Kamiyama had previously led the bank’s efforts to use big data for conducting econometric analysis in real time. According to Reuters, this proved helpful when the Japanese economy was hit by the coronavirus epidemic earlier this year. 

Stepping up the pace of research

Despite maintaining its position that it has no immediate plans to issue a CBDC, this latest development does indicate how seriously the Japanese central bank is taking the current research. 

As Cointelegraph reported, the BoJ only recently announced the new team, to accelerate ongoing studies into the feasibility of a national digital currency. It is reportedly seeking private sector input to increase its current understanding.

It has also been collaborating with several other central banks in a digital currency working group since January of this year.

Coinbase Banner  

Government also on board with CBDC

The potential issuance of a digital yen also has support in the Japanese government. Consideration of a CBDC has been written into The Honebuto Plan, which is the basis for Japan’s economic and fiscal policy.

Japan may currently be the most cash-loving population in the world, but its authorities seem to be increasingly looking towards digital currency and its potential for the future.

Go to Source
Author: Jack Martin


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.