[NEWS] GMO Aozora Net Bank to issue digital currency "DCJPY" with DeCurret DCP and IIJ

DeCurret DCP announced on the 12th that it will issue the digital currency "DCJPY" in July of next year, which it is promoting together with GMO Aozora Net Bank and IIJ (Internet Initiative Japan). This will be the first time that DCJPY will be put to practical use.

DCJPY is not a stable coin under the Payment Services Act, but is explained as a digital currency equivalent to a traditional bank deposit. Therefore, in the unlikely event of a default, the bank will be responsible and will respond.

This initiative is being carried out through the "Digital Currency Forum," which is made up of more than 100 companies, organizations, and related ministries and agencies, and has conducted a number of demonstration experiments to date.

Members include many large companies such as Mitsubishi UFJ Bank, Mizuho Bank, KDDI, and NTT Group, as well as local governments such as Tokyo and Aizuwakamatsu City. In addition, observers include the Bank of Japan, the Ministry of Economy, Trade and Industry, the Ministry of Finance, the Ministry of Internal Affairs and Communications, and the Financial Services Agency.

DCJPY is a digital currency characterized by a two-tiered structure consisting of two areas, the common area and the additional area, with 1 DCJPY being worth 1 yen.

In the announcement, the common area is called the "financial zone" and the additional area is called the "business zone." The financial zone is where issuing banks participate, and the business zone is where business companies participate when expanding their business.

According to the announcement, the issuance of DCJPY will be the first commercial service to utilize the "DCJPY network" provided by DeCurret DCP.

GMO Aozora Net Bank will issue DCJPY, and IIJ will begin converting environmental value (non-fossil certificates, etc.) transactions into digital assets and trading and settlement using DCJPY as early as July next year.

The specific process is as follows: First, DCJPY is automatically issued when fiat currency is deposited into the DCJPY account through GMO Aozora Net Bank. After that, the environmental value tokens issued by IIJ are transferred to the trading partner, and DCJPY automatically moves to IIJ.

In the future, we will encourage the participation of electricity retailers, power generation companies, environmental value exchanges, etc., and promote the circulation of the entire flow of environmental value transactions on the blockchain.

▶︎Transfer flow of environmental value tokens and DCJPY

At a press conference, Satoshi Murabayashi, CEO of DeCurret DCP, said, "In the future, we would like to move forward with an eye on the entertainment, metaverse, and ST (security token) markets, including the IP domain."

In addition, DeCurret DCP has also published the "DCJPY White Paper 2023," which describes in more detail the spread of DCJPY in society and its mechanism, with an eye on the issuance of DCJPY.

The core concept of the service is "AMIC," and it is expected to be used not only between individuals, but also for inter-company payments by large companies.

According to the white paper, AMIC incorporates the meanings of "Asset," "Money," "Identity," and "Contract," and by combining these, flexible and effective transactions will be possible, contributing to the expansion of new business opportunities.

Reference:Announcement 1, Announcement 2
Image: Quoted from the announcement