Oct 12 - A group of Japanese firms will issue a digital currency by July 2024 for the transaction and settlement of clean energy certificates, cryptocurrency exchange DeCurret said on Thursday.
From next July, DCJPY is intended to be used by telecommunication firm Internet Initiative Japan for the settlement of clean energy certificates, which assign an"environmental value" to energy procured from non-fossil fuel sources.DCJPY tokens will be backed by bank deposits and are intended to link with bank accounts to enable the seamless settlement of transactions.
DCJPY is also hoped to drastically lower payment settlement costs as compared to the existing system of direct debits and transfers. The launch would align Japan with other countries that have seen an increase in the number of digital currencies backed by bank deposits and block-chain technology.