Japan's Central Bank Says Blockchain Trials Are Exploratory So Far
The central bank of Japan will not be applying blockchain to its payments and settlement systems any time soon, the institution has said. Following a statement last year by the Bank of Japan’s deputy governor Haruhiko Kuroda, that the the bank was "test driving" distributed ledger technology, the bank's head of payments has now clarified the research. Masafumi Miya, who also oversees the bank’s fintech center, told CoinDesk: "These trials by the bank's staff simply aim to understand the mechanics of DLT, rather than applying it to the bank's own liabilities or its payment....
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The Bank of Japan – the county’s central bank – is “test-driving” blockchain, or distributed ledger technology to understand the innovation, according to its governor Haruhiko Kuroda. Earlier today in Tokyo, Kurodo was speaking [PDF] at a financial forum centered around digital innovation and Fintech, notably pointing to new innovations in information technologies to bring significant change and impact to the financial industry, among the oldest industries in the world. Deeming financial services as an information industry that fundamentally sees a system of informational flow and....