Bank of Japan starter CBDC-pilot

The pilot trials of the central bank’s CBDC will take place in April, following the conclusion of two proof-of-concept projects which tested the basic elements of issuance, payout and transfer of digital yen and more complex testing of the feasibility and technical performance of the system under a variety of scenarios.

Announcing the pilot trial, BoJ executive Uchida Shinichi, states: “The aim of the pilot programme is twofold: first, to test the technical feasibility not fully covered by the PoCs, and second, to utilise the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation.

“Under the pilot programme, we plan to develop a system for experiments, where a central system, intermediary network systems, intermediary systems and endpoint devices would be configured in an integrated manner.”

Forsøgene vil medføre simulerede transaktioner med detailhandlere og forbrugere sideløbende med etableringen af ​​et CBDC-forum med private institutioner i betalingsområdet.

Den japanske kortgigant JCB er allerede gået sammen med identitetsspecialisten Idemia og fintech Soft Space for at undersøge, hvordan enhver digital yen ville fungere i detailbutikker.

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