The Central Bank of Japan may have plans to launch a digital yen, but as it turns out, a number of private Japanese companies too have decided to hop onto that particular bandwagon – they have hatched a plan to launch a private version of the digital yen.
Over thirty different companies have joined this plan, ranging from brokerages, telecoms, retailers, utilities and, surprisingly, three major banks. It is these three private banks that will be launching the digital yen, but the role of the other companies is unclear for now.
This project is expected to launch next year and its first step will be to conduct a number of experiments about the issuance of such currency.
Source
Would such a currency even be considered an actual Yen, regardless of how they call it? The Japanese State won't be behind it.
Over thirty different companies have joined this plan, ranging from brokerages, telecoms, retailers, utilities and, surprisingly, three major banks. It is these three private banks that will be launching the digital yen, but the role of the other companies is unclear for now.
This project is expected to launch next year and its first step will be to conduct a number of experiments about the issuance of such currency.
Source
Would such a currency even be considered an actual Yen, regardless of how they call it? The Japanese State won't be behind it.
