Selected for the CBDC Forum of the Bank of Japan
Startale Labs Japan Co., Ltd. announced on the 20th that it was selected as a member of the CBDC (Central Bank Digital Currency) Forum established by the Bank of Japan.
Startale Labs Japan is a Japanese subsidiary of Startale Labs, an independent company from the Aster Foundation. The company is engaged in the development of Web3 business in Japan and related business consulting.
At the beginning of 2023, the Bank of Japan announced plans to start a “pilot experiment” project on CBDC from April 2023. As part of this, the CBDC Forum was launched with a view to incorporating the technology and knowledge of private businesses.
The CBDC Forum will consider the following aspects: (1) Insights and achievements in businesses and technologies related to retail payments, (2) How they relate to the forum’s discussion and discussion themes, and (3) Diversity of participants and the content of the forum’s discussions and discussions.
Dozens of companies were selected to participate in the CBDC Forum, and Startale Labs Japan is one of them. Going forward, participating companies will be divided into working groups, and each group will make presentations and discuss topics such as “exchange of cash and CBDC”, “business utilization of CBDC (form of additional services)”, and “collaboration with private payment infrastructure” at meetings held several times a month.
Startale Labs Japan commented as follows.
Startale Labs Japan will contribute to the pilot experiment of the CBDC system by cooperating with the participating companies of the CBDC Forum by utilizing the knowledge gained from the development experience and development so far.
What are CBDCs
CBDC (Central Bank Digital Currency) refers to a digital currency issued by the central bank of each country/region.
At the end of May, the Bank of Japan released a report on the results of the “Proof of Concept Phase 2” of its demonstration experiment on central bank digital currency (CBDC).
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About Startale Labs Japan
Startale Labs Japan was established in January 2011 by Sota Watanabe, the founder of Stake Technologies Inc., which develops the public blockchain “Astar Network (ASTR)” from Japan, with the aim of promoting web3 in Asia. It is a technology company specializing in Web3 infrastructure development with the slogan “Web3 for Billions — Building Web3 used by billions”. Startale Labs Japan formed a capital tie-up with Sony Network Communications Inc. in June 2011.
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