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BOJ to begin feasibility study on digital currency in April

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I can’t imagine baachans across Japan ditching their 10,000 notes and switching to a BOJ cryptocurrency, nor many other groups to be honest.

0 ( +1 / -1 )

If you take a little time to understand what a CBDC is and how it works you will realize that if this is implemented then eventually there will be no fiat paper currency in circulation but rather a digital fiat currency issued by the Bank of Japan.

In order to participate in the economy ( buying and selling goods and services ) you will need to use CBDC. Once the currency has been digitalized, paper currency ( 10,000 yen notes etc) will no longer be a valid/accepted form of currency.

There will be a lot of people that argue this will be a good thing. I am not one of them.

Any person that shares Libertarian views will understand why.

2 ( +2 / -0 )

We’re just one cyber pandemic away from this becoming reality.

Add it to your Vaccine Passport and bingo it’s the CCP Social Credit Score System

-1 ( +0 / -1 )

Should save on printing costs!

0 ( +0 / -0 )

Not sure how this is different from my debit card or debit app on my smartphone. Both use "cashless" yen - ie, electronic blips.

0 ( +0 / -0 )

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