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” BoJ official says digital yen won’t be used to achieve negative interest rate “ The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates. The BoJ’s Executive Director, Shinichi Uchida made the announcement in his most recent…
“# Boom or bust? Is there a way for Bitcoin price to hit $100K in 2022? ” The internet is filled with Bitcoin (BTC) price forecasts. For example, some analysts believe that the flagship crypto will hit $1 million per coin in the next 10 years, while others think BTC price will eventually drop to…
“# Japanese megabanks join consortium launching yen-based digital currency ” A consortium of roughly 70 Japanese companies, including the country’s biggest financial institutions, have joined forces to trial and launch a new yen-based digital currency in fiscal 2022, sending a strong signal that the private sector was embracing blockchain-based payment systems. The new digital currency,…
“# New York authorizes first Yen stablecoin operator in the US ” New York has given the first authorization to a stablecoin backed by the Japanese Yen to operate in the U.S. Per a Dec. 29 announcement, the New York Department of Financial Services has granted Japanese firm GMO-Z.com a charter to handle U.S.D. and Yen-backed…
“# Inflation games: Bitcoin competes with fiat on value but lacks volume ” Bitcoin being regarded as “sound money” is a common refrain among many proponents of the popular cryptocurrency. With a finite supply of 21 million and a network secured by over 120 exahashes per second of computing power, the consensus among industry commentators…
“# Japanese messaging giant LINE developing CBDC platform ” LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19. Sources familiar with the matter reportedly told The Chosun that LINE aims…