BOJ Official Says Digital Yuan is Unlikely to Dominate the World

The transcript discusses the potential of a central bank digital currency (SEBD) in Japan, emphasizing the need for technological advancements and public support. It highlights global trends, such as China's digital yuan, and the importance of international cooperation among central banks. The Bank of Japan is exploring technological options for a digital yen, considering the evolving landscape of digital currencies.

What is the current stance of the Bank of Japan regarding the issuance of a central bank digital currency?

• They have decided against issuing it.

• They are exploring technology but have no concrete plans yet.

• They have already issued a digital currency.

• They have concrete plans to issue it soon.

Why is public support crucial for the issuance of a new currency in Japan?

• Because it ensures the currency's value.

• Because it helps in technological development.

• Because it reduces the cost of issuance.

• Because it requires collaboration with all stakeholders.

How does the Bank of Japan view the rapid progress of China's digital yuan?

• As a sign of outdated technology.

• As irrelevant to their plans.

• As a potential threat.

• As a model to follow.

What percentage of central banks are working on CBDCs according to the Bank for International Settlements survey?

• 100%

• 25%

• 86%

• 50%

What is the main focus for central banks globally when it comes to digital currencies?

• Dominating the global market.

• Making constant progress in settlement systems.

• Competing with cryptocurrencies.

• Reducing transaction fees.