BOJ's Yamaoka Discusses Efforts to Promote Fintech

The video discusses the role of the Payment and Settlement Systems Department in promoting fintech and financial innovation in Japan. It highlights the challenges faced by Japanese banks in adopting new technologies due to their extensive branch networks and an aging population. The video also covers the need for business strategy innovation and cost savings through technologies like AI, robotics, and distributed ledger technology. It mentions global collaborations, such as Project Stella with the European Central Bank, and compares Japan's fintech landscape with China's advanced payment systems.

What are the potential benefits of adopting distributed ledger technology in banking?

How does the Japanese fintech industry compare to that of China in terms of cashless payment systems?

How does the population's satisfaction with current banking services affect fintech innovation in Japan?