ChainCatcher News reports that Bank of Japan Governor Kazuo Ueda stated on Tuesday that the central bank will conduct experiments using blockchain technology to settle deposits held by financial institutions at the central bank. These experiments will be part of the Bank of Japan’s “sandbox project,” aimed at enabling the use of central bank digital currency for various settlement scenarios through blockchain technology. Analysts believe that introducing blockchain technology could enable real-time, 24/7 settlement and reduce systemic congestion risks.
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