Bank of Japan
The BoJ formally announced that CBDCs are now being developed to test the feasibility of them. The test ends in March 2021.
The BoJ published details about the bank’s CBDC plans. It forecasts that cash will not decline.
A project called Stella already tested the usability of DLTs and the BoJ published the results. The report emphasizes PET – privary enhancing technology.
Japan has been historically a cash economy accounting for 73 percent of transactions.
Japan still has more digitization to build.