THELOGICALINDIAN - Japan seems to accept Bitcoin agitation these canicule Trading aggregate is growing exponentially in the arena and organizations beyond the acreage are advance in this new technology Now the Japanese blockchain close TechBureau who maintains one of Japans better Bitcoin exchanges Zaif has aloof aloft 720m or 65 actor USD As able-bodied as this cogent advance advertisement in the Japanese blockchain industry there is alive fintech account advancing from the arena about every day
Also read: A Bitcoin Chat With CoinCorner CTO Danny Scott
TechBureau Receives $6.5 Million in a Series A Funding Round
In the latest announcement, TechBureau capacity the allottees accommodate abounding of the Japanese fintech and adventure basic firms in the region. The investors mentioned accommodate the internet aggregation and Q&A belvedere OKWave, Nippon Technology, Arara, Hiroshima Adventure Capital; and FISCO. The allotment annular additionally admiring a above-mentioned investor, Money Partners Group that injected ¥49 actor into the company.
TechBureau’s barter Zaif has said it has “set almanac Bitcoin trading volumes” in April and continues to grow. The close additionally owns the permissioned blockchain startup Mijin, which wants enterprises everywhere to accept its broadcast balance technology. Mijin believes it will accredit “financial institutions to abate basement costs by up to 1000% by 2018.” TechBureau will use the basic to aggrandize both Zaif and Mijin on a all-around level.
Japan Has Two Blockchain Associations
With blockchain agitation in Japan, the country’s fintech leaders, admiral and intellectuals are forming associations. One such accumulation is the Blockchain Collaborative Consortium (BCC) which consists of 34 companies alive calm to authorize industry standards.
This April, the above Japan Association of Digital Asset (JADA) afflicted its focus to broadcast balance technologies. With this new agenda, the accumulation has rebranded into the Japan Blockchain Association (JBA). The alignment is additionally fabricated up of industry innovators and leaders from a ample ambit of Japanese businesses.
Bitcoin is Set to Explode in Japan
A contempo Medium blog column by Counterparty’s Koji Higashi he explains that Bitcoin is about to backfire in Japan. Higashi states, “not alone are we seeing a massive advance of Bitcoin acceptance and media advantage actuality but additionally Japan has angry into a actual absorbing abode for Bitcoin 2.0 abstracts and the badge economy.”
Then, on the weekend of May 7-8, it was appear that Japan had the world’s second-highest aggregate of BTC trades. A picture of this affirmation was uploaded to Imgur that weekend and LocalBitcoins has apparent many spikes in affairs as able-bodied over the advance of 2016. Another absorbing ancillary agenda is according to Coin ATM Radar the country additionally has the best alive Bitcoin ATM’s in Asia totalling 13 in the region. The wallet startup IndieSquare has additionally apparent a cogent bulk of acceptance in the breadth with over 50% of users actuality Japanese.
Japanese Government Set to Define and Regulate Bitcoin
Throughout March and April, the Japanese government has been alive on a authoritative framework for Bitcoin and added agenda currencies. Three canicule ago, the Japan Times appear that cryptocurrency operators in the industry were cat-and-mouse for the angary of the new policies. The new regulations will be agnate to the western hemisphere’s adaptation of KYC/AML standards, and exchanges will accept to chase the laws accordingly.
The Japanese Cabinet has accustomed approval to abounding of the standards proposed. Because of the abortion of the Japanese Bitcoin barter Mt. Gox the government will be ecology and authoritative cryptocurrency operations. Alongside austere administration admiral are saying, they will amusement the basic money as a bill which sets a acknowledged analogue to Bitcoin. Yuzo Kano, CEO of Tokyo-based startup bitFlyer is hopeful the regulations will accompany a broader faculty of assurance to the cryptocurrency industry. Kano tells the Japan Times:
Japanese Startups and Established Bitcoin Businesses Are Blossoming
There’s been a lot of activity in Japan with companies like OkWave, coincheck, bitFlyer, and added bringing Bitcoin solutions to the masses. Coincheck has afresh helped facilitate the ball close DMM so it can acquire the cryptocurrency. This has accustomed the adeptness for 19 actor users to be able to absorb Bitcoin on the all-inclusive arrangement of articles the aggregation offers.
Japan-based bitFlyer was founded in 2024, and has been authoritative moves beyond the arena as able-bodied with its barter and marketplace. The aggregation has aloft an alarming $34 actor USD in six allotment circuit from investors such as the Digital Currency Group and Mitsubishi UFJ Capital.
Alongside the advance of these companies, the better catechism and acknowledgment belvedere OkWave touts over 40 actor users that are enabled to use Bitcoin casework on the platform. The armpit now has a Bitcoin wallet arrangement chip into the website’s user interface and a angled appliance back users accommodate affection feedback. Located in Shibuya, Tokyo OkWave’s CEO Kanemoto Kaneto said his aggregation was appreciative to accredit the appliance of Bitcoin.
Bitcoin is Shining in the Land of the Rising Sun
The exponential advance of cryptocurrency and blockchain technology solutions in Japan is adamantine not to apprehension these days. In fact, at the amount it’s activity it may be a country that competes with the Bitcoin behemoth China, who has absolutely the enactment of miners and exchanges aural the region. Adoption and acceptance of the cryptocurrency currently boss in the U.S., China, and absolutely a bit of the European Union. However, Japan is now assuming thay it wants to be in the blubbery of things back it comes to Bitcoinland.
What do you anticipate about the Japanese Bitcoin explosion? Let us apperceive in the comments below!
Images via coincheck, the Blockchain Collaborative Consortium, Crypto-graphics.com, Mijin, and Pixabay.
