Japan, where investors have flocked to cryptocurrency trading, is trying to wean its citizens off of hard money by the beginning of the Olympics next year.
Helping in that effort is the country’s largest bank and Akamai who are teaming up to “build a blockchain-based consumer payment network.”
According to Technology Review: “They claim that in tests it’s been able to handle more than a million transactions per second, with each transaction confirmed in two seconds or less, and say it could eventually achieve 10 million transactions per second. (Visa’s credit card network, by comparison, handles several thousand transactions per second. Bitcoin tops out at about seven transactions per second, and each transaction can take up to an hour to confirm.)”
However, with the world’s oldest population, some analysts are skeptical that there will be universal acceptance of cryptocurrency.