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BOJ to Accelerate Digital Currency Research

BOJ to Accelerate Digital Currency Research

   Tokyo, Jan. 22 (Jiji Press)--The Bank of Japan aims to accelerate research on digital currencies in cooperation with foreign central banks, amid rapid changes in financial technologies.
   The Japanese central bank will study and analyze related technologies and the impacts of digital currencies on the economy, while eyeing the possibility of issuing its own digital currency in the future.
   Wider use of digital currencies will enable low-cost and fast international cash transfers and payments.
   Meanwhile, thorough measures to protect personal information are needed because it is easier to track flows of money with digital currencies.
   The BOJ, five other central banks and the Bank for International Settlements said Tuesday that they have "created a group to share experiences as they assess the potential cases for central bank digital currency in their home jurisdictions."

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AFP-JIJI PRESS NEWS JOURNAL


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