EXPERIMENT FROM BANK OF JAPAN WITH A DIGITAL CURRENCY
The Central Bank of Japan has developed a plan to issue a digital currency. The first stage of the experiment has now begun. During the current fiscal year, which ends in March 2022, the Japanese Central Bank intends to test the technical capabilities necessary for the implementation of this project. The first stage was called "Proof of Concept". It will be associated with the development and testing of the functions of the Central Bank Digital Currency system. The Bank of Japan's initiative to issue a digital currency is far from the first. The central banks of some countries of the world are already carrying out appropriate work in this direction. Last year, this issue was discussed in the ECB, as well as in the Central Bank of China. The Bank of Japan announced in 2020 that it intended to conduct an experiment in the new fiscal year. It began on April 1.