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❕NEWS Bank Of Japan Wants To Create Digital Currency

NoLimits15

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The Bank of Japan wants to create a digitalized version of its own currency Yen so that all types of people can have easy access to it and use it whenever they want to. The digital token can be accessed by all types of people regardless of age and also it needs to be secure. The token must also have the capability to handle offline transactions when there is a power outage. It's good to see Japan embracing the concept of a digital token. What are your thoughts?
 

Ewogboka

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It is a good move by the government of Japan but I wish to know if the coin they are planning to launch is a stable coin or decentralized coins like bitcoin and the rest.
 

Emoney

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Most likely it will be stable coin since it's the digitized form of their national currency, Japanese Yen. Japan always fast to adopt new tech. Happy for them.
 

dadayli

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Such a good thing to be honest, espcially that japan is always concerned when it comed to technology, will it be something worldwide?
 

Ewogboka

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There is a move for Africa to have one single currency for equality, very likely if that is achieved it might go digital since everything is going digital but likely a stable coin too.
 

Wisdom01

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It is a good move by the government of Japan but I wish to know if the coin they are planning to launch is a stable coin or decentralized coins like bitcoin and the rest.
It just like the usdt which equate to $ and its stable in a digital form , I think Japan has done a great job creating their own type of crypto and I hope more people adopt its use
 

Miya

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The idea is good, but probably will not work well. Japan is still a cash-based society. Digital payments aren't even gaining traction there and most stores won't even accept credit cards. To go from cash to crypto is a huge leap.
 

Rassy011

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The idea is good, but probably will not work well. Japan is still a cash-based society. Digital payments aren't even gaining traction there and most stores won't even accept credit cards. To go from cash to crypto is a huge leap.
I don't think they are moving from cash to crypto currency yet, the digital currency will be used along side with cash, this is only a preparation for a future digital world.
 

Miya

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I don't think they are moving from cash to crypto currency yet, the digital currency will be used along side with cash, this is only a preparation for a future digital world.
Yes, but look at how long digital currency has been around and how popular it is in the rest of the world. Yet many stores in Japan are still not accepting it and are incapable of accepting it because they don't have the right equipment.

So sure, maybe they will create this new "yen coin", but it'll only be created and no one will actually use it.
 

Emoney

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It will take some time before Japanese people would be willing to use it. Unlike many other industrialized nations that quickly embrace "cashless society" concept, Japan is kinda slow in this regard.
 

Miya

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Yes but with enough effort and dedication, they can be able to fully inculcate the use of crypto both in payment channels and much more.
No one will put in the effort or dedication though. Japan will continue to be a cash-based society which is their preference. They will create crypto to show that they are capable of doing it, but I do not think crypto will ever be used in Japan.
 

Brain

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Good one for Japanese, creating a digital token is a good idea if that's what will boost their economy. I hope in the near future my country will follow suit.
 

brent_abella

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Good news. Japan has been influenced by cryptocurrencies especially Bitcoin and its worth now. This is a great move & progress of Japan by considering to adapt digital currency & evolve Yen.
 

Brain

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i hope so my brother if only the government can think of something to help to boost the economy and make the people enjoy the benefits.. It would have been something
Definitely,it will be something because both the economy and the people would have been boosted in a positive way.our government should think about this.
 

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Good move, great initiative. I always tell people who care to listen that crypto currency has come to stay. Other nations of the world should sharply follow the Japan initiative.
 

Dex Dannie

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This is a welcomed move by the Government of Japan. It only takes one country to start it and it spreads like wildfire. Digital currency is the revolutionary change!
 

Niftyicon

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Japan's attitude towards technology is just so awesome. They have set the pace in many fields for several other countries to follow.
 

Wisdom01

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Good move, great initiative. I always tell people who care to listen that crypto currency has come to stay. Other nations of the world should sharply follow the Japan initiative.
Even before initiative many countries have already launcher their digital currency , and users have start using it for trade on different trading platform
 

Ewogboka

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Even before initiative many countries have already launcher their digital currency , and users have start using it for trade on different trading platform
This is good , I also believed that the stable coins can still be earning people profit because they will be using it to trade like forex trading but in Crypto version.
 

bitforex22

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Exactly and I would propose that anyone with just an id should be able to use it , this will limit the money-laundering and unethical use + ease the adoption as well at the same time keep the worth of it alive
 
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