The Bank of Japan announced that it has added its main economist to its team to carry out the project to issue its own cryptocurrency, more quickly.
As indicated by various media, the person in charge of this project will be Kazushige Kamiyama, who could help this project take a very important turn.
Kamiyama previously led the bank’s efforts to use Big Data to perform real-time econometric analysis. This came in handy when the coronavirus epidemic hit the Japanese economy earlier this year.
The institution had announced days ago that a new team had been assembled to accelerate studies related to the feasibility of issuing a national digital currency.
The potential issuance of a digital yen is also supported by the Japanese government. The consideration of a cbdc was written in the Honebuto Plan, which is the basis of Japan’s economic and fiscal policy.