Bank of Japan to complete second phase of CBDC pilot program in spring

According to Cryptocurrency News on January 21, the Financial Services Corporation of Japan announced that it will enter the second phase of its Digital Currency Bank (CBDC) pilot program this spring. In this step, the demand satisfaction and offline capabilities of the CBDC and its ability to respond to interfering communications are examined. At the same time, Japanese financial institutions did not announce the duration of phase 2, but said it would immediately follow phase 3. The third phase is a joint venture between a private company and a consumer, and plans to collaborate on successful trials.