Japan’s government is moving forward with plans to develop a national blockchain-based financial system that will incorporate artificial intelligence (A.I.).
Japan’s ruling Liberal Democratic Party (LDP) has officially approved a new policy proposal to build the future financial system using A.I. and blockchain technologies.
The proposal is entitled “Next-generation AI & Onchain Finance Concept” and was submitted to the government earlier in May. It has since been approved by the government’s Policy Council.
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The plan focuses on developing an automated financial infrastructure that supports 24/7 agentic commerce via blockchain networks that support crypto such as Bitcoin (CRYPTO: $BTC).
The proposal stresses that blockchain is largely tamper-resistant, verifiable, and programmable, making it highly compatible with future financial networks.
Japan’s government is also supportive of tokenized assets such as stocks and yen-denominated stablecoins.
The plan calls for the tokenization of the Bank of Japan’s current account deposits.
The government has tasked the Japan’s Financial Services Agency (FSA) with formulating a five-year roadmap to promote investments in the project by both public and private groups.
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