The Bank of Japan (BOJ) has announced the results of the second phase of its central bank digital currency (CBDC) proof-of-concept (PoC) experiment and confirmed that its CBDC pilot project will begin in April as planned. The second-phase PoC lasted a year, from April 2022 to March 2023, and looked
Tag: CBDC
E-Commerce App Meituan Introduces Smart Contract Feature for Digital Yuan
Have you heard? Compared to other large countries, China has moved far more quickly to establish CBDC. In 2020, China began testing digital currency. Though the currency has seen application in retail transactions, including the purchase of assets, its smart-contract capabilities have yet to be tested on a broad retail
Advantages and Disadvantages of a Central Bank Digital Currency
Nowadays Central Banks are paving towards creating their own digital currencies which are diametrically different from the idealogy that drives cryptomarkets that debases the authority over money. The central bank digital currencies endow with cash-like liquidity safety for peer-to-peer payments. The Central Bank digital currencies are traditional forms of money but