With the regulation the Japanese government proposed late december we saw how regulators can actually help citizens and businesses on the road to adoption of cryptocurrency. With the regulations the Japanese take a different approach, unlike most other western countries. The Japanese officials don’t seem intimidated by the uprising of digital assets and crypto’s but decided to help with the challenge using them to make the world a better place. In stead of hampering the innovations at hand they actively help getting it forward. In this case the regulation focuses on protecting citizens against hackers by making it necessary for exchanges to have enough net assets “equal to or more than the amount equivalent to the currency and repayment funds” in the event of a hack. The necessity of these regulations became clear once more today as the death of the CEO of a Cryptocurrency Exchange caused millions in assets to evaporate, as he took the password to access the coins to his grave.
The impact of multiple years of sound interventions by the government in the Land of the Rising Sun especially becomes clear when we walk the streets of Japan’s capital. Adoption and flourishing businesses show unbridled signs of life. Again, unlike many other, more conservative, countries of the west.
A while ago a nice artwork showed up in /r/bitcoin depicting a scene where the start-ups and scale-ups of today’s blockchain space dictate the street-view of the future. The idea that the Amazon or Google of tomorrow is being built today raises the question if this is actually the direction we’re heading with blockchain.
From this perspective an interesting sight showed up in the center of Tokio this week that proves the Japanese government is on the right side of history. At Roppongi square, Japan’s most crowded piece of urbanisation, the following advertisement gives us a glimpse into the reality of that future.
The fact that companies like DMM within the blockchain/cryptocurrency space estimate there’s ROI in these advertisements and they can already out-compete multinationals in established market sectors in order to get this high-profile piece of exposure might just start to convince us; This is actually where we’re going.