Bank of Japan Governor: Bitcoin is Too Unreliable to be a Currency
Governor of the Bank of Japan Haruhiko Kuroda has cast doubts on bitcoin's future as a currency. "Without safety or stability in its value, there would be no demand. In that sense, it cannot be a currency," he told reporters after a central bank policy meeting. Kuroda added: "It is not a currency, and I don't think it is a general means of settlement,". Kuroda's comments, which were reported in the The Economic Times, come after nationwide shock in Japan at the bankruptcy of the now-infamous exchange, Mt. Gox, which was based in Tokyo, and other recent bad news for bitcoin, such as....
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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....
The Bank of Japan is reportedly very interested in the bitcoin digital currency. That is according to the bank's Governor Haruhiko Kuroda - who happens to be the 39th most powerful person in the world of finance, according to Forbes. Kuroda says that the Institute of Monetary and Economic Studies at the Bank of Japan is studying and watching the digital currency closely, but has no plans to take any form of action on bitcoin - be in good or bad. "Compared with traditional ways of money transfers and existing electronic money, Bitcoin has both similar and different aspects," he said in a....
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.....
A deputy governor of Japan's central bank has said that central banks worldwide need to pay close attention to developments surrounding digital currencies and blockchain technology. Speaking during a conference earlier this week in Japan, Deputy Governor Hiroshi Nakaso weighed in on several aspects of the financial technology landscape, including bitcoin and blockchain technology. Noting that the technology has "attracted considerable attention", Nakaso stated in his speech: "The application of those technologies would also change the structure of the financial....
The Deputy Governor of the Bank of Japan, Hiroshi Nakaso, has revealed that there is no plan to issue digital currencies as a substitute for banknotes at the present time. Still, the official added the bank would “make utmost efforts” to understand and research blockchain technology, an innovation “born” with bitcoin in 2008, as stated by Nakaso. The Deputy Governor was speaking [PDF] at the University of Tokyo – Bank of Japan Joint Conference in Tokyo late last week. He opined that blockchain or distributed ledger technology (DLT) presents significant potential to affect “money” and....