RIEB Discussion Paper Series No.2020-19

RIEB Discussion Paper Series No.2020-19


A Proposal for Asia Digital Common Currency


This paper proposes to provide Asian common currency in the form of digital currency using technology such as blockchain by an international organization (eg AMRO) in East Asia. In this proposal, we assume that each present currency and the new digital common currency coexist in the respective economies for the time being. With the advent of digital currency, the common currency has become more technically feasible. Our proposal has the following three advantages; (1) merits as a digital currency, (2) merits as a common currency, and (3) a currency that is managed in a multilateral flamework. By the last point, it could prevent dominant control of an international currency by large countries, and political fairness can be secured. This proposal has a perspective to develop into a global digital currency in the future.


Digital currency; Asia common currency; Distributed ledger technology; Blockchain, Account-based, Token-based

JEL Classification

E42, F33, F36


Taiji INUI
Chief Advisor, JICA CBM TC Project, Central Bank of Myanmar
ADB consultant for Cross-border Settlement Infrastructure Forum (CSIF)

Faculty of Economics, Osaka University of Economics
Research Fellow, RIEB, Kobe University
E-mail: wtaka@osaka-ue.ac.jp

Advisor, Itochu Corporation
Former Professor, Hannan University