Bank of Japan advances blockchain settlement infrastructure. Governor Kazuo Ueda announced that the BOJ is piloting blockchain technology for core financial settlements, testing whether central bank money can operate within distributed ledger systems. The initiative focuses on improving efficiency in interbank transfers and securities settlement through smart contracts. The BOJ is developing a sandbox project examining domestic interbank and securities settlement use cases while ensuring compatibility with existing infrastructure. This effort aligns with international initiatives like Project Agora, which brings together multiple central banks to explore cross-border wholesale settlement using tokenised central bank money. Japan participates in this broader movement toward reshaping financial infrastructure through blockchain integration and programmability.
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