Japan has positioned itself as an interesting region for cryptocurrency activity. This also means that the country may be issuing its own digital currency in the near future.
For now, there are nothing more than actual.
Does Japan Even Need a CBDC?
However, several domestic reports indicate that a CBDC in Japan may come sooner than some expect.
Japanese officials have indicated this form of money can be beneficial to the domestic economy..
Compared to other countries, Japan is well ahead in terms of embracing innovative technologies.
That also applies to financial solutions and instruments alike.
Rumor has it that this CBDC is a venture between the Japanese government and various private companies.
As is usually the case with rumors, there is a lot of conflicting information.
Some sources even go as far as shutting down this entire idea as being nothing more than hot air.
For Japan, issuing a native digital currency is not a must at this time.
It would certainly be an interesting option to explore, assuming it does not harm the economy any more than it needs to.
There is still plenty of research required before CBDCs can become a real thing.
Many governments and banks underestimate the consequences of going down this path.