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Gov't seeks safety guarantee over digital wage payout plan

13 Comments

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It could also make it easier for foreign blue-collar workers, who often struggle to open bank accounts in the country, to receive salaries without having to do so.

That is a ridiculous situation.

Conventional banks remain opposed to the deregulation largely because having accounts for salary payments help them promote their businesses to customers.

So Greed is the issue.

Banking in Japan is archaic, based on shuffling papers around an overstaffed office where everyone needs to look busy.

want to deal with a bank set half a day aside and take ten pens.

11 ( +11 / -0 )

If the government were competent I would be in agreement, but seeing how they blew something as important as their self-glorifying COCOA app, I wouldn't want them touching my money with a 10' pole.

8 ( +8 / -0 )

Any change is difficult, and in Japan change usually means failure and new levels of complex paperwork/ rules and hidden costs probably why change is so negatively viewed, historically it means regrettably confusion.

8 ( +8 / -0 )

Hackable new world order. The WEF at work.

3 ( +3 / -0 )

They imagine it will give them more control, in reality it will create huge amounts of data which costs a fortune to transmit, transact, store, monitor, regulate, and backup. In all that noise there will be no end of opportunity for scams, theft, money laundering, evasion and deception.

0 ( +0 / -0 )

Pardon my ignorance, but my salary is already paid electronically into my bank account and I can pay for anything with a credit card linked to that account without ever touching cash. Am I missing something?

5 ( +5 / -0 )

Pardon my ignorance, but my salary is already paid electronically into my bank account and I can pay for anything with a credit card linked to that account without ever touching cash. Am I missing something?

Exactly. Money goes into my acc, and then through my bank linked credit card to Apple pay (Suica app), online orders, supermarket purchases, Chemists, etc. I transfer vash by electronic banking to my wife's acc for things. The only time I touch cash is for small purchases at a convenience store or work cafe.

This sounds more like they're trying to find a way to bank the unbankable; those foreign interns that banks don't want to deal with. That could simply be solved by legislation forcing banks to bank everyone, instead of creating some wird digital currency system, which will have middle men at every step taking a free. Not to mention, giving even more control to employers over their foreign trainee interns.

1 ( +1 / -0 )

No problem, for only virtual money they also only get virtually work done. That’s just fair.

1 ( +1 / -0 )

reforms that would create a system within the current fiscal year that would allow companies to pay salaries in digital money

How about reforms to let companies to pay their workers however they please, and keep government meddlers out of it

1 ( +1 / -0 )

revisions to the ministry ordinance amid safety concerns and opposition over digital wage payouts from the banking industry.

Special privilege much?

the Health, Labor and Welfare Ministry will identify who among the digital salary payment service providers can transmit the funds.

Special privilege much?!

This sort of anti-competitive, big-government control should be brought to an immediate end.

We need free enterprise competition, that leaves power of choice with us, the individuals.

0 ( +0 / -0 )

"Safety guarantee"

I can guarantee the safety of my own money, thank you.

I don't need Klaus Schwab and his cabal at WEF to handle it for me through the J gov't.

0 ( +0 / -0 )

When is a salary not a salary? When it’s a crypto currency. Most companies pay by direct deposit already and 99% of bills can be paid by direct debit. I can’t see why they are pushing to have companies pay in virtual funds. Perhaps I am getting cynical in my old age, but I smell a rat behind this plan.

2 ( +2 / -0 )

If 7-11 and iHoldings could not pull it off, do you think the goverment could even though they do not care that 80% of the populous do not want the Olympics? But the govt. wants to control our money. Say no and boycott.

0 ( +0 / -0 )

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