TOKYO—A credit card company operating out of Tokyo, Japan Credit Bureau (JCB), plans to test a central bank digital currency (CBDC) infrastructure.
Dubbed the JCBDC project, the Bureau said it will leverage its existing credit card infrastructure to achieve its objectives, according to CoinGeek.
“JCB aims to set things in motion ahead of the national CBDC launch, which is being experimented on by the Bank of Japan. The project embarked upon by the JCB will comprise three arms, with the first being the utilization of touch payment infrastructure, the provision of plastic cards for the CBDC, and building a simulated CBDC handling environment,” CoinGeek reported..
The JCB noted that it will collaborate with French tech firm IDEMIA, a company specializing in providing augmented identities to clients in public security, finance, and telecommunications, according to the report. Malaysian fintech company Softspace will also play a role in the JCB experiment, making it a three-company joint project.
New Solutions
JCB noted that touch payment will be used. However, in the future, new solutions for mobile, like QUICPAY or QR codes, will be utilized to give users a wide berth of options. Barcode payment solutions will also be considered, CoinGeek said.
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