The Financial institution of Japan (BOJ) has introduced the outcomes of the second part of its central financial institution digital foreign money (CBDC) proof-of-concept (POC) experiment, confirming that the CBDC pilot challenge was launched in April as scheduled. A second part of his POC, which ran for a 12 months from April 2022 to March 2023, explored options that will complement the fundamental ledger performance examined in his first one-year experiment. .

In line with the Financial institution of Japan reportThe second part will check a method that introduces caps on CBDC holdings in case of a sudden shift from financial institution accounts to CBDCs, describing this as a “safeguard to make sure the steadiness of the monetary system.” This contains instances the place a single consumer has a number of accounts with a number of intermediaries. Person comfort in initiating and scheduling funds was additionally investigated.

Learn extra on Cointelegraph