On 26 May 2022, the Bank of Japan published the Results and Findings from “Proof of Concept Phase 1” for a Central Bank Digital Currency. During Phase One, which took place from April 2021 to March 2022, the Bank of Japan conducted an experiment to assess the feasibility of various design alternatives for a central bank digital currency (CBDC) ledger. The main objective was to evaluate whether the basic functions of the CBDC ledger could be effectively processed.
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