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The Bank of Japan has made an enormous step forwards in the global adoption of digital assets after it was revealed that it started experimenting with a Central Bank Digital Currency (CBDC) in the form of a digital Japanese Yen (JPY). According to a report by the BoJ, dubbed Technical Hurdles for CBDC, the experiment is to “check the feasibility of CBDC from technical perspectives” while collaborating “with other central banks and relevant institutions, and consider introducing a CBDC”. This move the BoJ will come as a surprise to many after its governor appeared to comment on a “lack of demand” for CBDCs back in December. At the time, BoJ governor Haruhiko Kuroda said: “It does not seem that there ...
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