Bank of Japan Won’t Launch Its Own Cryptocurrency

April 17, 2018

Japan’s Central Bank has declared, it does not intend launching its own digital cryptocurrency due to volatility of rates and probability of traditional financial system collapse.

The Bank’s Governor Deputy Masayoshi Amamiya is convinced, issuing cryptocurrency regardless of underlying Blockchain will produce negative effects onto existing two-level structure that provides for traditional note emission and payment tools safety.

The Bank’s Governor Haruhiko Kuroda would express his view earlier, cryptocurrencies won’t be able to make much impact over legitimate payment means as they are used primarily for speculative trading rather than for goods and services.

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