Japan becomes the Bitcoin country. Bitcoin has been recognized as an official payment tool for almost a year, and Bitcoin has become more and more popular for several months.
Perhaps it was the spectacular failure of the once-biggest Bitcoin trading platform MT.Gox, which forced the authorities and financial supervision at an early stage to devise regulations for Bitcoin. Or perhaps it is because the Japanese have always been digital affinities and love innovations. Whatever it may be, Bitcoin has now also legally consolidated itself as an official and legal payment. Bitcoin exchanges now need a license. But this legal security now also seems to give banks, businesses and consumers a greater sense of security. By the end of the year, Japanese and tourists could pay with bitcoin in up to 400,000 stores, estimates Midori Kanemitsu, the financial director of Bitflyer's largest Japanese Bitcoin exchange.
Will Bitcoin Mainstream?
One has to see clearly, the Japanese are getting older and the missing offspring presents big problems for the Japanese national economy. Problems to be solved with Japanese innovation, and Bitcoin is one of them.
The bitcoin provider BITPoint is facing this challenge. The company wants many Japanese companies to recognize the crypt as a means of payment. BITPoint strives for hundreds of thousands of retail locations. To this end, the company is negotiating with partners to provide mobile payment terminals.
The niche product has become a billion-dollar market. A number of companies follow the bitcoin trend. Peach Aviation is the first Japanese airline to accept the directional payment. From the end of the year it is possible for travelers to book flights with Bitcoins. The low-cost airline also plans to increase the attractiveness of the crypt diet in cooperation with local authorities and companies.
Already at the end of May, the important Internet group GMO opened its own Bitcoin stock exchange. The Japanese giant has dozens of subsidiary companies operating in infrastructure, advertising and finance. Now, companies such as GMO Click and z.com have also made their way into commodity and currency trading.
GMO z.com was founded in 2016. The company is currently developing and testing a special trading platform. The target group are Japanese forex traders and small investors who want to trade exclusively in the currency Bitcoin. The start was delayed as there were probably problems with embedding with the Crypto-Börse GMO Click.
Conclusion: Bitcoin more and more popular
What exactly is the trigger for this, nobody knows so exactly. One thing is absolutely certain: Bitcoin is becoming more and more popular in Japan and could become mainstream soon. And here is a little tip: Who wants to visit as a tourist Japan, can save the exchange fees. The banks usually charge 3% or more commission to exchange Swiss francs in yen. Who has Bitcoins can save themselves this fee and in Japan directly Yen refer.
