Bank of Japan governor says CBDC preparation can't wait until hour of need

Bank of Japan governor says CBDC preparation can't wait until hour of need

In fresh remarks, Bank of Japan Governor Kuroda Haruhiko said that experiments with a domestic central bank digital currency will begin in spring 2021. Japan is taking a measured but attentive approach to global interest in central bank digital currency issuance. In his latest remarks published on March 16, the Bank of Japan's governor, Kuroda Haruhiko, noted that the institution has not changed its stance and still does not currently have a concrete plan to issue a CBDC.However, this non-commitment does not mean inactivity on the CBDC research and development front by any means. In Oct.....


Related News

Japan will prioritize simplicity in CBDC design, says central bank executive

The Bank of Japan is keen to ensure seamless integration of its central bank digital currency with the existing payment architecture. While Japan’s CBDC plans are still in the research stage, Shinichi Uchida, an executive of the Bank of Japan (BOJ) has said simplicity will drive the central bank’s design thesis for the digital yen.According to Reuters, Uchida made this known during a speech delivered on Friday calling for modalities to be put in place to ensure the CBDC co-exists with existing private payment channels.For Uchida, vertical integration of the digital yen within the private....

‘No Plan to Issue CBDC’ — Bank of Japan Governor

Haruhiko Kuroda, the governor of the Bank of Japan (BOJ), has said the bank is currently not planning to launch a digital currency. The remarks come just a few days after the BOJ announced the commencement of the second phase of central bank digital currency experiments. Role of CBDC in People’s Lives The governor of the BOJ, Haruhiko Kuroda, recently disclosed the central bank’s stance on issuing a digital currency has not changed — it will not issue a central bank digital currency (CBDC). The governor, however, insisted the BOJ will still continue “to....

Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan ...

According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded. Central Bank Mulls Delaying CBDC Rollout The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya’s mobile phone users is working against its plan to launch a CBDC. He warned the central bank may be forced to delay its....

Japan’s finance industry awaits clearer picture of digital yen in 2022

The digital yen should be compatible with other CBDCs to counter China’s progress with its digital yuan, one official argued. Japan will have more clarity on the design of its central bank digital currency no earlier than late 2022, according to a ruling party official.Hideki Murai, head of the ruling Liberal Democratic Party’s panel on digital currencies, said that the Bank of Japan is still working on sorting out the key functions of the digital yen, such as defining what entities would serve as intermediaries between the central bank and deposit holders.“By around the end of next year,....

Namibian Central Bank Announces Plan to Launch CBDC

Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability. BON Researching CBDCs The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored. In remarks published by Namibia Daily News, Gawaxab hinted....