David – Cryptocurrency Expert
Together with Idemia and Soft Space Sdn. Bhd., Japan Credit Bureau Co., Ltd. (JCB) launched the JCBDC (JCB Digital Currency) pilot project. The trial project will be led by JCB, the exclusive international payment brand for Japan, Idemia, an identity technology business, and Soft Space, a fintech firm.
CoinMarketCap, a service that tracks cryptocurrency asset prices, tweeted about this new endeavor.
In addition, the group will create a central bank digital currency (CBDC) payments system and test this pilot project with Tokyo Merchants, according to a news release posted on the Idemia website.
Idemia argues that although retailers may be hesitant to adopt CBDC right away, its managing director feels that CBDC is rethinking the basic principles. Romain Zanolo, managing director of Idemia, thinks CBDC will fundamentally alter how payments are made.
As Zanolo said “We take pride in the fact that our capacity for innovation allowed CBDC payments to be made using current card and POS terminal technology. The integrated payment system experience of JCB, Soft Space, and Idemia will boost CBDC expansion globally.”
However, JCB will use the JCB equipment that is now in use to assess if CBDC will be accepted. The hardware that is now in use consists of JCB's EMV-based contactless payment, retailers, POS terminals, and user interfaces that employ plastic cards.
According to JCB board member and senior executive officer Koremitsu Sannomiya, accepting current payments benefits both consumers and businesses. Additionally, he said “it brings me tremendous pride to announce our project's partnership with Idemia and Soft Space. This study demonstrates that it is possible to integrate new CBDC payment systems with current payment acceptance hardware, which is extremely advantageous for both customers and businesses.”
Joel Tay, CEO of Soft Space, continued by saying that “even though the project was only getting started, their knowledge of in-store payments and current platforms will help them go from theory to reality.”
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards