According to Cointelegraph, Bank of Japan Governor Kazuo Ueda stated that the central bank will experiment with using blockchain technology to settle deposits held by financial institutions at the central bank. In a speech released on Tuesday (The New Financial Ecosystem and the Role of Central Banks), Ueda revealed that a sandbox project is currently underway to test the feasibility of settling with central bank currency in the form of 'current deposits' on a blockchain system.The experiment will explore 'how to connect with existing systems' and assess application scenarios including 'domestic interbank settlements and securities settlements'.