I do like the idea that different governments are wanting to explore the creation of digital currencies for their country (the speed of transferring that country’s fiat is nice no matter the geography), there’s still one thing that concerns me.
The central government can choose to create an expiration date for the digital currency. China’s digital yuan has that ability.
This means that you have to use it within a time frame or it’s gone. So, it forces the citizen to return the money back into the economy. While it sounds nice to help the economy grow, you also lose the ability to invest and watch your money grow.
tldr; Bank of Japan will roll out a CBDC pilot program to three major Japanese banks in spring 2023. The two-year pilot aims to determine any problems with deposits and withdrawals to and from bank accounts. It will also check whether the infrastructure is operational during natural disasters and without an internet connection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
This is exactly what the crypto market needs.
No ponzi schemes, but expediency.
I hope soon Euro coin, Dollar coin.
Digitial CBDCs are basically digital FIAT. It doesn’t change anything.
And it will be baned, and then not, and then again
fiat with more steps
I do like the idea that different governments are wanting to explore the creation of digital currencies for their country (the speed of transferring that country’s fiat is nice no matter the geography), there’s still one thing that concerns me.
The central government can choose to create an expiration date for the digital currency. China’s digital yuan has that ability.
This means that you have to use it within a time frame or it’s gone. So, it forces the citizen to return the money back into the economy. While it sounds nice to help the economy grow, you also lose the ability to invest and watch your money grow.
That, though. I fear that.
tldr; Bank of Japan will roll out a CBDC pilot program to three major Japanese banks in spring 2023. The two-year pilot aims to determine any problems with deposits and withdrawals to and from bank accounts. It will also check whether the infrastructure is operational during natural disasters and without an internet connection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Noted.