Results 1 to 9 of 9

Thread: Japanese Banks Are Planning to Launch J-Coin, a Digital Currency Meant to Kill Off Cash

  1. #1

    Default Japanese Banks Are Planning to Launch J-Coin, a Digital Currency Meant to Kill Off Cash

    Japan's central bank is backing a scheme that could see the the cash-dependent country move toward a digital currency built on blockchain technology.
    The J Coin, as it's to be called, is under development by a group of Japanese banks with the blessing of financial regulators. According to the Financial Times (paywall), it's meant to launch in time for the 2020 Tokyo Olympics as a way to streamline the country's financial system.
    At the moment, some 70 percent of all financial transactions in Japan use cash—a far higher amount than occurs in most developed countries, where cash has been on the decline for some time now. Relying so heavily on hard currency exacts costs in the form of transaction and handling fees, as well as the expenses associated with moving all those notes and coins around. Cash transactions are also easier to hide from regulators, and India, for example, cited shutting down the black market as one reason it decided to push aggressively towards digital money.
    The idea for J-Coin is that it would sit alongside the Japanese yen, exchanged at a one-to-one rate, and be offered as a free service. In return, the banks that operate it would get detailed data on how people use it (as we've discussed before, that will indeed make people easier to track).

    More at: https://www.technologyreview.com/the...meant-to-kill/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



  2. Remove this section of ads by registering.
  3. #2

    Default

    90% of all money in the US is already digital. Just not bitcoin.
    "The only thing we have to fear is.... fear itself!" Franklin Delano Roosevelt.
    "Be afwaid. Be berry afwaid" Donald Trump.

    The optimists built this country and made it great- not the fearful. Fear can only destroy.

    I am Zippy and I approve of this post. But you don't have to.

  4. #3

    Default

    How much will a Jap Coin be worth ?

  5. #4

  6. #5

    Default

    Quote Originally Posted by oyarde View Post
    How much will a Jap Coin be worth ?
    They say they want it to be worth one yen- which is currently $0.0089

    The idea for J-Coin is that it would sit alongside the Japanese yen, exchanged at a one-to-one rate
    "The only thing we have to fear is.... fear itself!" Franklin Delano Roosevelt.
    "Be afwaid. Be berry afwaid" Donald Trump.

    The optimists built this country and made it great- not the fearful. Fear can only destroy.

    I am Zippy and I approve of this post. But you don't have to.

  7. #6

    Default

    Quote Originally Posted by Zippyjuan View Post
    They say they want it to be worth one yen- which is currently $0.0089
    .0089 , excellent , LOL . Take a lot of those to buy a beer .

  8. #7

    Default

    just fiat currency with a tracer.

  9. #8

    Default

    Quote Originally Posted by The Northbreather View Post
    Nip-Tip
    No, that's the Hebrew one.
    ΟΥ ΓΑΡ ЄCΤΙΝ ЄξΟΥCΙΑ ЄΙ ΜΗ ΥΠΟ ΘЄΟΥ

    "Patriotism should come from loving thy neighbor, not from worshiping graven images" - Ironman77

    "ideas have the potential of being more powerful than any army....The concept of personal sovereignty was pulled screaming from the ether into this reality by the force of men believing in a self evident truth, that men are meant to be free." - The Northbreather

    "People who place their trust in government don't like competition from charities." - Origanalist

  10. #9

    Default

    Quote Originally Posted by kfarnan View Post
    just fiat currency with a tracer.
    Pretty much , makes taxing easier .






Similar Threads

  1. Replies: 0
    Last Post: 01-17-2017, 03:47 PM
  2. Do We Need The Fed For Digital Currency?
    By Brian4Liberty in forum Ron Paul Forum
    Replies: 7
    Last Post: 10-17-2016, 08:14 PM
  3. Decentralized Digital Currency
    By awake in forum U.S. Political News
    Replies: 2
    Last Post: 04-06-2013, 07:25 AM
  4. Replies: 3
    Last Post: 03-16-2013, 09:48 PM
  5. digital currency
    By cbc58 in forum Economy & Markets
    Replies: 14
    Last Post: 08-21-2010, 04:25 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •