Bitcoin and Fintech Isn’t a Threat to Fiat Currency, Says Bank of Japan Official
A senior Bank of Japan (BoJ) official has stated that bitcoin and other Fintech innovation isn’t a threat to the fiat money central banks print. According to Hiromi Yamaoka, head of the BoJ’s payment and settlement systems department, central banks need to maintain the public’s trust. This is because the growth of FinTech provides people with a substitute to cash, reports Reuters. This year, Hiroshi Nakaso, the deputy governor of the BoJ, stated that central banks would have to watch the progress and developments relating to bitcoin and blockchain. In a speech, he stated that the financial....
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