Japan Pushing Cryptocurrency

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.

j-coin-1

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.

https://www.technologyreview.com/s/611656/will-people-ditch-cash-for-cryptocurrency-japan-is-about-to-find-out/

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.