the bank of Completed Japan (BOJ) second platform of His own CBDC workout which he is now moving forward with its pilot project.
the bank of Japan (BOJ) has successfully Covered up the second phase of Study it in possibilities of central bank digital Currency (CBDC), according to a recent report. this year-long projectfrom April 2022 to March 2023, built Based on explored constituent ledger functions in the first phase.
The report indicates that this second phase focused on technologies to create maximum border on CBDC holdings, which the Bank of Japan considers very important step towards guarantee financial stability.
This is it in stay tuned of Any sudden shifts from traditional banking services to the use of central bank currencies. This consideration extends to scenarios where a single user maintains multiple accounts via different brokers.
In addition, easy-to-use procedures for Initiation and scheduling of payments has been evaluated. technological advances in Database languages ​​and ledger designs were also Explore them, including experiments on Innovative and flexible value token model.
To accommodate multiple transactions from a single account more Efficiently, coordinated system It was an introduction.
a model made up of 100,000 virtual users and five moderators were used in experiment, which tested load capacities from 500 to 3,000 transactions per transaction second.
Although not comprehensively addressed, privacy concerns were inherently included, and offline payments, in particular, were evaluated in Regarding fraud prevention and privacy.
POCs have achieved their goals, according to the Bank of Japan, and to boot way for Launch at the right time of CBDC pilot projectwhich will further study process flows and integration with external systems. Interestingly, the report confirms that the Japanese public They will be useful in the decisionRelease making process of a CBDC.
To facilitate input from private sector, a CBDC forum will be established. The Bank of Japan aims to reach an end point decision about launch of (a) CBDC by 2026.
