Financial encyclopedia

The Bank of Japan began to study CBDC in 2020. At that time, the research was promoted by the cooperation of the Ministry of Finance, the Financial Services Department and the Central Bank.

Two-stage experiment was conducted. A digital yen pilot program will be launched in April this year, which is expected to last for several years. The central bank will conduct simulated transactions with private institutions in a test environment.

In the future, or conduct substantive trading experiments with retailers and consumers.

Ichiro Kamiyama, head of the payment and settlement department of the Bank of Japan, said that it is more suitable for Japan to adopt the "Swedish model" than the "China model" in launching CBDC. These two

China is one of the first countries in the world to study CBDC.

The Swedish model refers to focusing on small-scale technical research, including testing whether the electronic krona can adapt to other electronic payment providers in the settlement system. Sweden morning

CBDC was studied in 2017, and the electronic krona pilot program was launched in 2020, but it has not yet been issued. The Swedish central bank continued to make relevant preparations this year, including research on technology.

The way of using electronic krona at the level, as well as the related legal issues such as data protection and asset classification.

The China model refers to the actual use of digital RMB through large-scale pilot projects, including becoming one of the payment channels at the Beijing Winter Olympics last year. China has been open since 2014.

CBDC related research began, and the pilot program was launched at the end of 2019. Since the end of last year, digital RMB has been included in the statistics of currency circulation of the People's Bank of China. At the end of last year,

The balance of digital RMB in circulation reached 13.61 billion yuan.

In fact, the development of CBDC in Japan has been accused of lagging far behind other countries. With the rapid development of digital RMB, many political parties and officials in Japan are worried that the digital people

If Japanese currency becomes the main trade settlement method, it may weaken the position of Japanese yen as a safe haven currency, so Japan has to step up its research. The Bank of Japan has repeatedly stressed in recent years that it has not

There are plans to issue digital yen, but in response to environmental changes, relevant preparations need to be made.