Japan firms to issue digital currency for clean energy transactions. Aozora Net Bank will issue the yen-based digital currency, called DCJPY, which will operate on a network formed by DeCurret. From July 2024, 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.
In an era marked by rapid technological advancement, the concept of digital currency has emerged as a revolutionary force, reshaping the way we perceive and conduct transactions. Also known as cryptocurrencies, these decentralized, digital assets have captured the imagination of investors, businesses, and governments alike. In this article, we will explore the world of digital currency, shedding light on its origins, benefits, challenges, and future prospects.
The inception of digital currency can be traced back to the release of Bitcoin in 2009 by an anonymous entity known as Satoshi Nakamoto. Bitcoin's blockchain technology paved the way for the creation of a secure, transparent, and decentralized system of peer-to-peer transactions, free from the control of traditional financial institutions.
As the digital currency ecosystem continues to evolve, it is likely to witness increased mainstream adoption and technological advancements. Governments and financial institutions are exploring ways to integrate digital currencies into their existing systems, potentially paving the way for a more harmonious coexistence between traditional and digital financial systems.
So Japanese firms are taking benefit from Digital currency by making these tradable using blockchain technology. DCJPY tokens will backed by bank deposits & are intended to link with bank accounts to enable the seamless settlement of transactions.
DeCurret says this improves security by using banks' existing know-your-customer (KYC) and anti-money laundering practices alongside a traceable blockchain ledger and distinguishes it from stablecoins, cryptocurrencies whose values are typically pegged to fiat currencies. So they are using Digital Currency for Clean Energy.