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Japanese CBDC by 2030 — XRP dream or dystopian nightmare?

Author: Content Editor
A journalist from Nikkei FinTech predicts that Japan will introduce a central bank digital currency (CBDC) by around 2030. This news has divided opinions, with some hopeful investors seeing it as beneficial for cryptocurrencies like Ripple (XRP), while skeptics view it as a corrupt form of cash. The trend towards a cashless society is already taking hold in Japan, especially in urban areas like Tokyo. Japanese journalist Shinichi Morikawa believes the introduction of a CBDC in Japan will likely follow the movement in the EU, which is expected to start around 2028. The Bank of Japan (BOJ) has been issuing statements and updates on the topic of CBDCs, generating excitement among crypto proponents. However, concerns exist about the control and surveillance aspects of CBDCs, as well as potential ties to Japan's "My Number system," a social ID for residents. Nevertheless, the journalist believes that the global movement towards CBDCs is unstoppable and foresees their introduction in Japan's future. Critics argue that Japan's traditional cash mentality, precious metals, and true peer-to-peer cryptocurrencies are a preferable alternative.

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