fbpx
  • About Us
  • Contact
  • Sponsored Content
  • Price Tracker
  • Write for Us
  • Terms and Conditions
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
  • Hot topics
    • NFT
    • Games
  • Forecast
    • Ethereum
    • Bitcoin
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Swyftx Review
      • Zipmex Review
      • Pionex Review
      • Gemini Review
      • CoinList Review
      • OKX Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
  • Hot topics
    • NFT
    • Games
  • Forecast
    • Ethereum
    • Bitcoin
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Swyftx Review
      • Zipmex Review
      • Pionex Review
      • Gemini Review
      • CoinList Review
      • OKX Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Japan’s Central Bank Postpones CBDC Plan Amid Little Public Interest

Japan’s Central Bank Postpones CBDC Plan Amid Little Public Interest

Van Tran by Van Tran
August 5, 2022
in Tech
Japan's Central Bank Postpones CBDC Plan Amid Little Public Interest
Share on FacebookShare on Twitter

You might also like

Shiba Inu’s Shibarium Blockchain Launches Amid Endeavours For Pushing DeFi Growth

CLabs Proposes Transition of Celo Blockchain to Ethereum Layer-2 Solution

Lightning Labs Unveils Tools Enabling AI Applications to Transact Bitcoin

Despite evaluating the technical feasibility of issuing a central bank digital currency (CBDC) in 2021 and kicking off the second experimentation phase in April, Japan’s central bank has postponed its launch due to little public interest.

According to Sayuri Shirai of Asia Times, on July 20, the Bank of Japan (BOJ) is not contemplating CBDC deployment soon owing to the popularity of credit cards, online banking services, and e-money payment tools among Japanese customers.

Favoured payment methods

The private sector also promotes the broader use of digital and mobile payment technology. In addition, most Japanese residents allegedly enjoy unrestricted access to the banking system, and the necessity to encourage financial inclusion for excluded groups has not yet emerged.

In addition, most customers find private sector-based payment systems more appealing owing to perks such as the ability to collect and accrue points that can later be used to pay for other products or services.

Japan’s Central Bank. Image: Forkast.news

Japan’s CBDC experiment

The BOJ began the experimental phase of assessing the viability of issuing a CBDC in April 2021. This phase lasted until March 2022, when the BOJ went on to the second step of determining its extensive functions.

BOJ Executive Director Shinichi Uchida dismissed the notion of the central bank adopting the digital yen to achieve negative interest rates in mid-April, as the central bank was still planning CBDC trials.

The institution’s third phase, in which commercial enterprises and end-users were to engage in a pilot program if judged essential, has reportedly been put on hold indefinitely.

CBDCs and their capacity

According to a recent survey by the fintech and blockchain startup Ripple, 70% of financial industry professionals feel that CBDCs can affect social transformation in the next five years, with benefits such as financial inclusion and access to credit.

Similarly, the International Monetary Fund indicated in June that some cryptocurrencies and CBDCs might be an energy-efficient alternative to credit and debit cards.

Tags: Bitcoin News
Van Tran

Van Tran

Recommended For You

Shiba Inu’s Shibarium Blockchain Launches Amid Endeavours For Pushing DeFi Growth

by John Hobbs
August 18, 2023
0
Shiba Inu's Shibarium Blockchain Launches Amid Endeavours For Pushing DeFi Growth

Shiba Inu, a crypto known for its SHIB tokens inspired by Dogecoin and the Shiba Inu dog breed, is making a significant move by introducing the Shibarium blockchain....

Read more

CLabs Proposes Transition of Celo Blockchain to Ethereum Layer-2 Solution

by John Hobbs
July 18, 2023
0
CLabs Proposes Transition of Celo Blockchain to Ethereum Layer-2 Solution

CLabs, the organisation behind the development of the Celo blockchain, is planning to transition from being an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution, marking a...

Read more

Lightning Labs Unveils Tools Enabling AI Applications to Transact Bitcoin

by John Hobbs
July 8, 2023
0
Lightning Labs Unveils Tools Enabling AI Applications to Transact Bitcoin

Lightning Labs recently unveiled a suite of new tools that enable AI applications like OpenAI's GPT series to hold, send, and receive bitcoin (BTC). This development addresses a...

Read more

Polygon 2.0 Releases Upgrades To Tap Into ‘Value Layer’ Of Internet

by John Hobbs
June 14, 2023
0
Polygon 2.0 Releases Upgrades To Tap Into ‘Value Layer’ Of Internet

Polygon Labs recently unveiled "Polygon 2.0," a series of enhancements to establish the "Value Layer" of the internet. The company envisions a platform where users can generate, exchange,...

Read more

Lido Finance Upgrades To Second Version On Ethereum

by John Hobbs
May 17, 2023
0
Lido Finance Upgrades To Second Version On Ethereum

Lido Finance recently underwent an upgrade to its second version, known as "V2," on the Ethereum network. This made the native governance token of Lido, LDO, increase 10%...

Read more
Next Post
Thousands Of SOL Wallets Attacked, Millions USD Drained

Thousands Of SOL Wallets Attacked, Millions USD Drained

Most popular

  • Quantum AI Review 2023: Is Quantum AI Legit or Scam?

    Quantum AI Review 2023: Is Quantum AI Legit or Scam?

    112 shares
    Share 45 Tweet 28
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2023

    558 shares
    Share 223 Tweet 140
  • CommSec Pocket Review 2023: Pros & Cons, Fees & Security

    104 shares
    Share 42 Tweet 26
  • VRA Price Predictions 2023-2030: Can VRA Price Exceed $1?

    145 shares
    Share 58 Tweet 36
  • TRX Price Predictions 2023-2030: Can TRON Reach $100?

    117 shares
    Share 47 Tweet 29

Recommended

Binance CEO CZ Zhao and Exchange Seek Dismissal of SEC Lawsuit, Citing Regulatory Overreach

Binance CEO CZ Zhao and Exchange Seek Dismissal of SEC Lawsuit, Citing Regulatory Overreach

September 23, 2023
ASIC Initiates Legal Action Against Bit Trade Over Margin Trading Product Compliance

ASIC Initiates Legal Action Against Bit Trade Over Margin Trading Product Compliance

September 22, 2023
Kraken Review 2023: Fees, Features, Pros & Cons

Kraken Review 2023: Fees, Features, Pros & Cons

September 21, 2023
Stanford University to Return Multi-Million Dollar "FTX Gifts" Amidst Controversy

Stanford University to Return Multi-Million Dollar “FTX Gifts” Amidst Controversy

September 21, 2023
Facebook Twitter Instagram
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Adoption Altcoin News Banks Bitcoin Bitcoin News btc Business Cardano CBDC China Coinbase CoinSpot Crypto Cryptocurrencies Crypto Exchange DeFi El Salvador ETF Ethereum Exchanges Feature FTX Games hacks Markets Metaverse Mining NFT NFT Game Opinion People Policy and Regulation SAM SEC Security Solana Stablecoins Tech Terra Top Crypto News Australia | CoinCulture Trading U.S. US web3 XRP News

© 2022 CoinCulture. All rights reserved.

No Result
View All Result
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
  • Hot topics
    • NFT
    • Games
  • Forecast
    • Ethereum
    • Bitcoin
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Swyftx Review
      • Zipmex Review
      • Pionex Review
      • Gemini Review
      • CoinList Review
      • OKX Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase

© 2022 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$26,578.00-0.01%
    BITCOIN
    24H : -0.01%
    Volume : $7,517,555,540.00
    Marketcap : $517,874,682,340.00
  • ethereumEthereum(ETH)$1,591.200.160%
    ETHEREUM
    24H : 0.160%
    Volume : $3,246,599,467.00
    Marketcap : $191,109,945,133.00
  • tetherTether(USDT)$1.0000.050%
    TETHER
    24H : 0.050%
    Volume : $11,308,511,294.00
    Marketcap : $83,211,529,627.00
  • binancecoinBNB(BNB)$210.550.140%
    BNB
    24H : 0.140%
    Volume : $200,884,285.00
    Marketcap : $32,371,045,319.00
  • rippleXRP(XRP)$0.5100.190%
    XRP
    24H : 0.190%
    Volume : $412,056,750.00
    Marketcap : $27,126,748,007.00
  • usd-coinUSDC(USDC)$1.0000.060%
    USDC
    24H : 0.060%
    Volume : $2,207,507,087.00
    Marketcap : $25,762,843,760.00
  • staked-etherLido Staked Ether(STETH)$1,590.350.00%
    LIDO STAKED ETHER
    24H : 0.00%
    Volume : $5,514,609.00
    Marketcap : $13,858,941,255.00
  • dogecoinDogecoin(DOGE)$0.0620.550%
    DOGECOIN
    24H : 0.550%
    Volume : $120,481,914.00
    Marketcap : $8,684,166,876.00
  • cardanoCardano(ADA)$0.2450.610%
    CARDANO
    24H : 0.610%
    Volume : $86,502,730.00
    Marketcap : $8,573,971,194.00
  • solanaSolana(SOL)$19.380.280%
    SOLANA
    24H : 0.280%
    Volume : $151,649,098.00
    Marketcap : $7,985,804,971.00

Add New Playlist