{"id":247739,"date":"2020-01-22T08:52:40","date_gmt":"2020-01-22T13:52:40","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=247739"},"modified":"2020-01-22T08:52:40","modified_gmt":"2020-01-22T13:52:40","slug":"japanese-central-banker-speculates-libra-spurred-central-bank-crypto-study","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/japanese-central-banker-speculates-libra-spurred-central-bank-crypto-study","title":{"rendered":"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study"},"content":{"rendered":"

According to a former executive from the Bank of Japan, who made a statement<\/a> on Wednesday, major central banks started to set up study groups into crypto shortly after Facebook\u2019s threat was made clear.<\/p>\n

Joining Up To Streamline Crypto<\/strong><\/h2>\n

Central banks of Sweden, Canada, Switzerland, Britain, Japan, and the Euro Zone, have all announced a plan to share their individual experiences when it comes to the issuance of digital currencies<\/a>. This comes amid a growing debate across the world about what the future of money will be. With the new rise in cryptocurrencies, the existence of paper money in fifty years from now becomes more and more doubtful.<\/p>\n

Hiromi Yamaoka was the former head of the Bank of Japan\u2019s (BoJ) division that oversaw settlement and payment systems. Yamaoka claimed that Libra\u2019s rise had triggered a global movement where central banks started to compete to make their own currencies appear more desirable.<\/p>\n

Keeping Things Like Libra In Check<\/strong><\/h2>\n

Yamaoka further explained that the new decision from these six banks to share information is more than just to bolster their individual research. He stated that the cooperation between banks is a bid for these banks to keep things like Libra in check. Yamaoka stands in a unique position to speculate this, having been in charge of the negotiations of new technologies within BoJ.<\/p>\n

Yamaoka explained that Libra offers something that would make transactions far cheaper than they are now. If major banks are to stay relevant, they must make sure they are making efforts to make settlements more efficient as well. The easiest way to enable this is through the use of new digital technologies.<\/p>\n

\"\"<\/a><\/p>\n

Yamaoka currently stands as a member of the board at Future Corp, an IT consulting firm. During his time with BoJ, he oversaw the research the bank had done in digital currencies as a whole. Furthermore, the man maintains close contact with several global central bank policymakers.<\/p>\n

The New Crypto Arms Race<\/strong><\/h2>\n

Just as Libra started to become a threat, and before the overwhelming amount of scrutiny<\/a> was thrown its way, banks had accelerated their crypto research. The central banks of the world are striving to issue out their own Central Bank Digital Currencies, or CBDCs. With Libra serving as the main focus, questions have started to arise over whether a country will be capable of maintaining its sovereign control over money as the decades go on.<\/p>\n

China is the one leading<\/a> the crypto arms race at this time. As it stands now, they are already busy with their own form of a pilot program within key provinces of the Mainland. It\u2019ll only be a matter of time before the technology spreads out across the country, then the world.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a former executive from the Bank of Japan, who made a statement on Wednesday, major central banks started to set up study groups […]<\/a><\/div>","protected":false},"author":1717,"featured_media":239903,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[7598,1584,8349,7893],"acf":[],"yoast_head":"\nJapanese Central Banker Speculates Libra Spurred Central Bank Crypto Study<\/title>\n<meta name=\"description\" content=\"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study\" \/>\n<meta property=\"og:description\" content=\"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-22T13:52:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/10\/fb-libra1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ali Raza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ali_r1272\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ali Raza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\"},\"author\":{\"name\":\"Ali Raza\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\"},\"headline\":\"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study\",\"datePublished\":\"2020-01-22T13:52:40+00:00\",\"dateModified\":\"2020-01-22T13:52:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\"},\"wordCount\":466,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"keywords\":[\"Crypto\",\"Facebook\",\"Libra\",\"Trading\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\",\"name\":\"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"datePublished\":\"2020-01-22T13:52:40+00:00\",\"dateModified\":\"2020-01-22T13:52:40+00:00\",\"description\":\"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\"]}],\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search & Compare Brokers within Crypto, Forex & Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\",\"name\":\"Ali Raza\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"caption\":\"Ali Raza\"},\"description\":\"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/alirazak\/\",\"https:\/\/twitter.com\/ali_r1272\"],\"url\":\"https:\/\/insidebitcoins.com\/news\/author\/aliraza\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study","description":"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.","robots":{"max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739","og_locale":"en_US","og_type":"article","og_title":"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study","og_description":"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.","og_site_name":"InsideBitcoins.com","article_published_time":"2020-01-22T13:52:40+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/10\/fb-libra1.jpg","type":"image\/jpeg"}],"author":"Ali Raza","twitter_card":"summary_large_image","twitter_creator":"@ali_r1272","twitter_misc":{"Written by":"Ali Raza","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739"},"author":{"name":"Ali Raza","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d"},"headline":"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study","datePublished":"2020-01-22T13:52:40+00:00","dateModified":"2020-01-22T13:52:40+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739"},"wordCount":466,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"keywords":["Crypto","Facebook","Libra","Trading"],"articleSection":["Breaking Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739","name":"Japanese Central Banker Speculates Libra Spurred Central Bank Crypto Study","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"datePublished":"2020-01-22T13:52:40+00:00","dateModified":"2020-01-22T13:52:40+00:00","description":"Just as Libra started to become a threat, and before the overwhelming amount of scrutiny was thrown its way, banks had accelerated their crypto research.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739"]}],"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739#primaryimage"}},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search & Compare Brokers within Crypto, Forex & Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d","name":"Ali Raza","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","caption":"Ali Raza"},"description":"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.","sameAs":["https:\/\/www.linkedin.com\/in\/alirazak\/","https:\/\/twitter.com\/ali_r1272"],"url":"https:\/\/insidebitcoins.com\/news\/author\/aliraza"}]}},"modified_by":"Ali Raza","_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1717"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=247739"}],"version-history":[{"count":0,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/239903"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=247739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=247739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=247739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}