Meanwhile, the central bank can obtain the data necessary for maintaining overall payment and settlement stability through operating large-value payment systems. In this regard, if the issuance of central bank digital currencies transforms the current two-tiered system into a single tiered system, it could also influence the private sector's use of information and data attached to payments and settlements.
Also, from the perspective of efficient use of information and data related to payments and settlements, the current two-tiered system consisting of the central bank and private entities may have some advantages and rationales. The Bank of Japan does not have a plan to issue its own digital currency that can be widely used for payments and settlements at this juncture.