⚠️ HRF CBDC ⛓️🪙 alert from HRF for Japan (26-FEB-2024)

🗝️ℹ️ (Key Information)

CBDC Status: Pilot

CBDC Launch: n/a

CBDC Model: n/a

CBDC Issued: n/a

Inflation Rate: 2.5%

One-sentence summary:

🇯🇵 Bank of Japan is reportedly preparing to launch a Central Bank Digital Currency (CBDC) by the end of 2024, amid concerns about potential impacts on financial privacy and freedom.

✅ 🇯🇵 Bank of Japan has been conducting experimental Central Bank Digital Currency (CBDC) projects and might launch its CBDC by the end of 2024.

✅ The first CBDC proof-of-concept was completed in March 2022, with findings published in May the same year that showed the bank had no plans to issue a CBDC.

✅ The Bank launched a second CBDC proof-of-concept in April 2022 that concluded in March 2023.

✅ The pilot program was launched in April 2023 to explore how citizens will access and use the CBDC via intermediaries like banks and financial institutions.

✅ In January 2024, the Japanese government and the Bank of Japan discussed potential legal considerations, system designs, and issues for a Japanese CBDC with plans to have legislation ready by spring 2024.

✅ Despite 🇯🇵 Japan boasting high scores on most metrics by Freedom House, concerns arise over risks to financial privacy and liberty with the creation of a CBDC.

#CentralBankDigitalCurrency #Japan #BoJ #FinancialPrivacy #HumanRights

How might the development of a CBDC in nations like 🇯🇵 Japan influence financial privacy and freedom across the globe? Share your thoughts.

Disclaimer: This is an AI-generated summary of the original text from HRF, forigve fuck-ups plox. If you find it useful, ⚡ the Tracker Bot because the AI and Cloud bits are not free to run.

Source of data: https://cbdctracker.hrf.org/home (npub1zhqcda52mrvcc0vkwegwsp5xtpk6l6x5kqx85f06tu9lw5h6xx0scch0dw)

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