Central banks all over the world are studying and analyzing central bank-issued digital currencies. As reported earlier, central banks in Europe, Canada, and other countries grouped together to discuss the impact of central bank-issued digital currencies on the economy and other sectors.
Bank of Japan likely to issue its CBDC.
The central bank of Japan will study and analyze related technologies and the impacts of digital currencies on the economy. The bank is also likely to launch it’s own central bank-backed issued digital currency sometime in the future. However, an official from the Bank of Japan said that at present, they don’t have a concrete plan to launch a digital currency.
China is likely to launch its national digital currency this year.
The People’s Bank of China recently revealed that it had completed its test run of its national digital currency dubbed as DCEP (Digital Currency/ Electronic Payment). The bank has not revealed any specific date as to when the digital currency will be launched, but it is expected that the central bank will issue the currency sometime this year.