BOJ official downplays fears over China's digital currency

When I first washed upon these shores Japan was just about to overtake the US as the most economically powerful country in the world.At that time China was nothing more than a backwater wannabe.Fast forward 30 years,after 3 decades of stagnation,and Japan is having to play catchup big time.But because of its patriarchal style of leadership it never will.

China’s digital currency will soon make inroads into Japan just as Weipay has done...

China will only end up being on the losing end no matter how hard or what it does to be and overtake the US. It may for a short time do so but it won't last and will be its own doom. It is destiny and can't be changed.

The U.S. will only end up being on the losing end no matter how hard or what it does to keep up with China. It may for a short time do so but it won't last and will be its own doom. It is destiny and can't be changed.

BOJ like Japan itself always does this...

China will be ahead, already are. Most of them pay using their phones. Now they are working on a digital currency. What do we do? Nothing

Samsung, half of Korea becoming more and more rich, getting all the deals overseas, worth billions upon billions! What does Japan do? Nothing

We have allowed S. Korea and foreign companies to bury Japan without a fight, to win without a struggle in sight from Sony or any other company. Shame!

Japan seems to be out of ideas and is resistant to new trends-one way thinking is the present norm...

"But new technology is invented all the time. Even if you're ahead on the technology available now, you could get locked into what becomes old technology as time passes," he told Reuters.

Very good point he made there. Another good example, is North Korea versus South Korea. Sure, in the 60s, they were well ahead of South Korea at the time. Well take a look at the two countries now. Need I say more?

And considering how disgrace that China is now, I don’t think we have to worry about them taking over anything regarding digital currency. Not on the world stage anyway. Because in order for that to work, that involves most countries trusting in China. And as we all know, most countries are moving away from China, so I really don’t see this happening.

@Spitfire yet, I bet you want to live in neither of those countries.