Technology
Bank of Japan has appointed the top economist in charge of the Digital Yen initiative
The Bank of Japan (BoJ) has shifted its senior economist to head the Department for Research and Development in Digital Currency Central Banks (CBDCs).
- Kazushige Kamiyama, former Director-General of the Department of Research and Statistics at BoJ, moved to the Department of Payments and Settlement Systems, Reuters reported on Friday.
- Since the beginning of the year, the Department has been actively active in the Digital Currency Working Group alongside five other central banks.
- It also maintains a task force, set up earlier this month, which discusses the potential consequences of the implementation of the CBDC in Japan.
- Former professor, Kamiyama has been in the BoJ for more than six years, including two years in the central bank's New York offices.
- As Head of Analysis, he promoted the use of Big Data by the bank to better track and capture real-time economic patterns.
- Having initially dismissed CBDCs, the BoJ has revisited the idea of launching its own digital currency as China's geopolitical rival has taken the lead in the creation of CBDC.
- This week, a senior official told local media that digital currency work is now the central bank's top priority.
