Deputy Governor of the Bank of Japan: The premise of the widespread adoption of the central bank’s digital currency is the decline of cash

According to Reuters, the Bank of Japan’s deputy governor, Miyagi, believes that the central bank’s digital currency (CBDC) will not receive widespread support. The cancellation of cash will make public infrastructure inconvenient, so no central bank will do so. He added that if the digital currency still has negative interest rates, people will still choose cash to reduce expenses, thus limiting the adoption rate of the central bank's digital currency.