In 2008 Satoshi Nakamoto a computer programmer, sent out a 9-page white paper named: A peer to peer electronic cash system. Releasing the first Bitcoin software and changing history forever gifting the world with a cryptocurrency. In 2011 after collaborating with other developers, Nakamoto vanished. Eventually, everyone wanted to know who this man was, and soon reporters found Dorian Satoshi Nakamoto, and truly thought he was Nakamoto, but he wasn’t. No one knows why Nakamoto disappeared, some believe he vanished to allow Bitcoin to create its own wings, and others believe once he realized how big of a deal Bitcoin was he simply decided to remain anonymous. It is believed that he holds about 1 million bitcoins, which is worth about 7 billion today. And that is enough power to control the industry. But, no matter what the facts are and whatever has happened to Satoshi Nakamoto, he certainly has changed the world forever.
We all know the Japanese are very patriotic, so could the fact that Satoshi Nakamoto, the Japanese creator of Bitcoin, may have given them the boost they needed to support this ecosystem? Yes, maybe, I sure would be proud, wouldn’t you?
No matter what it is, Japan carries credibility in its culture, always very forward thinking, and seeing them fully embrace cryptocurrency, gives people confidence and trust to become a part of it as well. It could very much be influencing the world to join the community with less fear.
There are several countries around the world getting a boost in their economy from cryptocurrencies, like Italy for example, and now according to Bloomberg, 2018 could be Japan’s turn.
Japan’s central bank debt crisis, may have worried the population for a while, but Japan keeps on this positive approach towards cryptocurrency, allowing it to show the world the capability it has of opening new doors. The population has naturally leaned on cryptocurrency, as they now hold 40% of global cryptocurrency transactions.
Japan has become a hotspot for cryptos.
They have over 3.5 million investors according to 17 of Japan’s exchanges, which means it could actually be a lot more since there are 32 exchanges in the country, plus over 100 on the waiting list, says FSA.
Japan doesn’t fail in showing us that the way to stay ahead is to always embrace new technology.
Cryptocurrency: A light at the end of the tunnel for Japan’s Youth
Over the years, Japan’s economic crisis demanded much from their youth, which has put tremendous pressure on them to have to adapt in this time of much cultural change, and due to the high-level of stress and demand, their youth have been locking themselves in solitude.
According to Now This World News, there had been over 700,000 young men giving up hope and withdrawing from society. These men are referred to as “grass-eaters”. This effect has even been lowering their birth-rate(TFR) and creating stranded relationships.
So, could cryptocurrency be reviving this absolutely incredible nation’s youth and economy?
Most Crypto investors in Japan happen to be between the ages of twenty and thirty-five. This age group around the world have never been so interested in the economic sectors as since the birth of cryptocurrency. It just speaks their language.
The fact that cryptocurrency has become so popular in Japan it has generated a raise of 20 to 30% in salaries within this market, opening up positions for engineers, coders and others, inviting high-skilled individuals from all over the world.
Cryptos are good news in Japan!
Japan’s government has announced they are reviewing fundraising mechanism plans for ICOs, this means regulations. They are also one of the few countries who have recognized cryptos as legal tender.
A few technology and financial giants like Rakuten, LINE, GMO internet and SBI have embraced cryptocurrency and even made bitcoin payroll available to employees, and some are even active in the mining and exchange business. Pushing Japan one step at a time to becoming the global hub for cryptocurrency.
Also, Mitsubishi UFJ Financial Group (MUFG) has announced that it is developing and soon to launch a private-blockchain-platform for online payments.
Japan is not holding back, giving everything it got to interact and open ways for its people to engage and make this ecosystem a part of their everyday lives.