A Japanese study group on digital currencies has evolved into a larger Digital Currency Forum to explore specific use cases. It aims to explore a digital currency-based settlement infrastructure leveraging the Japanese Yen. The original group of nine firms included SMBC, MUFG, Mizuho and NTT Group. Accenture also participated with several government organizations as observers, including the Bank of Japan and Ministry of Finance. DeCurret was the group’s coordinator.
That group has now expanded significantly to 38 firms. It includes JCB, the card and payments processor, some big insurers, capital markets companies, energy firms, advertising agencies, manufacturers and others.
Today the original group published its study paper, which outlined a digital currency diagram, a nod to the famed BIS money flower. A major feature that’s different from the BIS diagram is the absence of a reference to token-based currencies.
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