Cryptocurrency in Japan and banking solutions on blockchain

Cryptocurrencies in Japan are of interest, and in the USA few people are ready to use blockchain

Cryptocurrencies in Japan remain the point of interest. Indirectly, this is evidenced by the information published by the service Coinhills. The fact is that the national currency of the Land of the Rising Sun – the yen was the most used among crypto traders. In particular, we are talking about the purchase and sale of bitcoin.

According to the analytical company, JPY is not much, but still ahead of the US dollar. 653 244 BTC is sold daily on trading sites. USD is located on the second line with a significant gap from the third place, which is the state currency of South Korea – won. The fourth point is given to Euro, followed by zloty and Russian ruble.

Another interesting information was published by the Financial Dervices Agency of Japan (FSA). According to the regulator, experts are considering 200 applications for the opening of new cryptocurrency exchanges. According to the legislation of the Land of the Rising Sun, the registration of such services requires a licensing procedure. In 2018, the document was issued to Coincheck platform, famous for the world’s largest theft of cryptocurrencies in the history. It is to be recalled that in 2017, hackers withdrew NEM (XEM) tokens for a total amount of $534 million from the accounts of users of the site.

Also in July 2018, VCTRADE crypto-exchange was launched. FSA issued a license to conduct transactions with Bitcoin, Ethereum and Ripple. In the future, most likely, the company’s listing will be expanded. The service belongs to a large consortium SBI Holdings. Previously, Financial Services Agency took the initiative to combine digital money into a single category of “crypto assets”.

While cryptocurrencies gain popularity in Japan, in the USA they do not trust blockchain

In December 2018, the research company FOTON conducted a survey among US residents. The main theme was the attitude to developments, which are based on the blockchain. The results were disappointing. In total, 3% of respondents are ready to trust products created with the help of a distributed register.

Large banks are willing to cooperate with startups that offer solutions on this technology. Especially great attention to the proposals Ripple and R3. In 2018, Spanish financial group BBVA made $150 million loan record to Ethereum blockchain.

However, Americans do not believe such services and do not understand what benefits they will receive from their use. In total, experts interviewed 5,000 people, of whom 3,000 simply do not know what the use of a distributed registry will give them personally. Only 150 respondents agreed to work with technology. That’s only 3%. Another 34% will consider this possibility after the improvement and promotion of solutions. 63% of the USA residents are not interested in this option at all.

The use of blockchain became fashionable in 2017, but after the decline of cryptocurrencies, individuals turned away from it. Industry HYIP has come to ought. However, the distributed registry has not gone away and is actively developing. Now the study of technology do 90% of the financial organizations in the United States and the EU. In the spring of 2018, IBM analysts expressed their opinion about the rapid increase in confidence in the development over the next 10-12 years. Experts are sure: in 2030, the market volume will exceed $ 3.1 trillion.

Учитывая широкий спектр технических областей, в рамках которых развивается и консультирует Александр Пан, данный ресурс ведется пресс-службой эксперта. В настоящий момент мы постоянно обновляем актуальные темы, входящие в компетенцию Александра - это IT, Искусственный Интеллект, Блокчейн и финансовые разработки. Желаем вам увлекательного чтения и приятного времяпровождения на данном блоге.

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Cryptocurrency in Japan and banking solutions on blockchain