Japan is working on the blockchain industry for the 2020 Tokyo Olympics.
The Japanese government is speeding up the reorganization of the cryptocurrency payment system in preparation for the influx of foreign tourists during the 2020 Tokyo Olympic Games. This is a strategy to promote the consumption of foreign tourists.
In Japan, about 80% of consumption is in cash. For this reason, many shops in Tokyo do not accept credit cards. This has resulted in reduced consumption of foreign tourists. The Japanese government is pushing to introduce a cryptocurrency payment system as a way to reduce cash payments.
Furthermore, it is particularly predicting the real estate boom around the 2020 Olympics, and plans to invest in real estate projects through tokenization.
Tokenization with the STO in the real estate market will make it easier to invest in real estate located in Ginza and Shinjuku and Shibuya.
'Securitize' a San Francisco-based blockchain technology provider, will offer tokenization technology to the Tokyo STO market.