Despite the government encouraging shoppers and retailers to embrace electronic forms of money, over 80% of consumers still rely on good old banknotes and coins for smaller purchases. Although adoption is improving among the nation’s young, adoption is happening at a glacial rate. A target has been set to increase cashless settlements to 40% by 2025. That’s hardly ambitious.
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In Japan, a digital yen may be on the horizon
Lawmakers for the country’s ruling party say they are working on a proposal for a state-backed digital currency
Japanese lawmakers are working on a proposal for the country to issue its own digital currency, according to a report in Reuters Friday. A digital yen could be a collaboration between the government and private companies, a key lawmaker in the country told Reuters Thursday.
