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Coronavirus pushes Bitcoin-friendly Japan to begin “Digital Yen” trials

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Shaurya Malwa

The East Asian superpowers are battling it out, this time with blockchain and digital currencies as a focus.

ZDNet reported Friday that Japan has quietly begun digital yen experiments in an effort to build out its CBDC capabilities.

The move comes as China’s digital yuan is seeing explosive development and South Korea has assembled a team to spearhead its digital won.

Legal implications before digital yen

Reports state technical challenges for a state-wide deployment are being carefully considered. Legal implications form the bulk of research, and Japan wants a “concrete footing” before issuing a digital currency.

Heading the study is ...

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