The central Bank of Japan (BoJ) will conduct a controlled pilot for a central bank digital currency (CBDC) to see how a digital yen would function from a technical standpoint.
The BoJ said it will begin a Proof-of-Concept (PoC) and wants to test the digital fiat in a controlled environment before deciding whether or not to proceed.
The bank made its intentions clear in a feasibility report, where it stated that it intends to work in conjunction with the central banks of other leading economies, many of whom are also piloting CBDCs.
Japanese media outlet Coin Post wrote,
bestadmin
