Fintech won't threaten central banks, for now - BOJ official
Digital currencies won't topple hard money printed by central banks any time soon, particularly in countries such as Japan with a solid, established financial infrastructure, a senior Bank of Japan official said on Tuesday.
But the need for central banks to maintain public trust in their policies has increased as the evolution of financial technology - or "fintech" - gives the public an alternative to using cash, Hiromi Yamaoka, head of the BOJ's payment and settlement systems department, told Reuters.
In April, the BOJ established a section in charge of fintech to offer guidance... read more
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