The report suggests that the BOJ intends to work on CBDCs to meet the people’s demands before they come. Although the bank has made no moves to issue the currency, it wants to be ready. However, it specifies that the CBDC will not replace cash but complement it.
“While the Bank of Japan currently has no plan to issue CBDC, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems, the Bank considers it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner.”
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