Japanese authorities are studying the issue of launching a national cryptocurrency

The authorities of the Celestial Empire are studying the issue of creating a national cryptocurrency. Such information is contained in the report of the country’s main financial institution, but it is emphasized that no final decision has yet been made.

In particular, two factors that can act as a barrier are indicated: the ability to use the asset of the predominant number of citizens of the country and the availability of virtual money even in offline mode.

“For the implementation of mass transfers it is better to integrate a centralized type. If the amount of the operation is limited, fault tolerance is important, ”the regulator notes, emphasizing that although the centralized system has several advantages, for example, high transaction speed, it becomes impossible in case of problems with the functioning of the entire system.

Now the Bank of Japan plans to evaluate the possibility of issuing a national digital asset from a technical point of view.