According to a brief statement issued by the Bank of Japan on October 18, it will test the basic functions of CBDC, including issuance, distribution and redemption.
Six months ago, the Bank of Japan issued a CBDC document. The document emphasizes the three phases of testing, which include two phases of proof-of-concept and a pilot program. The Bank of Japan previously revealed that the first phase of the CBDC trial will last for one year until March 2022. However, the central bank has not yet decided whether to issue a CBDC.
Post time: Oct-18-2021