According to ChainCatcher, citing Jinshi News, Bank of Japan Governor Kazuo Ueda stated on Tuesday that the central bank will conduct trials using blockchain technology to settle deposits held by financial institutions at the central bank. These trials will be part of the Bank of Japan's "sandbox project," aiming to enable the use of central bank currency in various settlement scenarios through blockchain technology. Analysts believe that the introduction of blockchain technology will potentially enable 24/7 instant settlement and reduce the risk of systemic congestion.
Kazuo Ueda: The Bank of Japan will conduct a blockchain-based monetary settlement trial.
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