Japan gets in on CBDCs

No commitments have been made, but Japan looks to run experiments for a year, testing issuance, distribution and redemption of a CBDC. Pilots involving consumers could follow some time in 2022.

A lot of Asia seems to be moving in that direction. Thailand announced that the central bank will commence the testing stage as soon as the 2022 second quarter hits and they wish to integrate their CBDC in the next three to five years.

I read the subject line and for some reason I read that as CBD. And I’m like wow ok marijuana soon?? HAHA.

Impressive. My thought initially was that larger, more populous countries would take their time adopting or even experimenting, due to their size of banking and general financial infrastructure and bureaucracy. But China has completed knock down that assumption. Glad to see countries understand the future is now and they’re actually doing something about it.

No MJ for you!

China, I think, was the first country to even consider it.