The Bank of Japan Gives Up On A CBDC

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The third largest economy is not going to have a CBDC. At least that is the plan for now.

In this video I discuss the recent announcement that the Bank of Japan has done away with the idea of a CBDC. It started its second phase earlier this year but did not get the support from the public.

Here is the article discussed in the video:

https://finbold.com/japans-central-bank-shelves-plans-for-cbdc-due-to-a-lack-of-public-interest/


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Wow, that is a bit surprising. I thought their government would just continue pushing forward and the Fed in the US rethinks CBDCs.

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It started its second phase earlier this year but did not get the support from the public.

They are sane. They have common sense. CBDCs are even worse than traditional fiat money. The government (with the central bank) would have total control with that. They could see and supervise literally every transaction with that.

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They’ll return to doing it. The plans ahead are global and Japan will not be able to avoid it. I’m the Fed trust me 🤣

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Japan saying no to CBDC at the moment is a massive win for the crypto currency and it's an indication that the total control from the traditional banking institution is loosing dominance step by step.

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