Blockchain Market Trend
Blockchain, mainly known as a backbone technology behind Bitcoin, is one of the most watched and most interesting technologies on the market. On a global level, there are currently 4,300 blockchain projects and startups across the world, according to the First Israeli Blockchain Report, and some $20 billion was raised via ICOs in the first nine months of 2018.
The Israeli blockchain industry has grown to encompass over 200 startups as of 2018, according to the Israeli Blockchain Association. “Israel is on the forefront of solving the real issues plaguing the blockchain world,” Josh Liggett, a Fintech and blockchain investment analyst, said at the end of 2018.
Blockchain Market Trend on Japanese
Today, Japan has 3.5 million citizens trading cryptocurrencies. Most of those users are young. Among Men aged 25-30, 14 percent own cryptocurrencies. This is a high adoption rate for any country and it places Japan at the forefront of cryptocurrency adoption worldwide. Although the cryptocurrency market has been tumbling toward the end of 2018, the number of blockchain companies and projects is on the rise in Japan.
Key points and notable facts
Japan has a very exchange-heavy ecosystem and most successful cryptocurrency-related companies in Japan are exchanges.
In 2017, Japan was the leading force for cryptocurrency trading and speculation in the world after its becoming first nation to officially regulate cryptocurrencies.
Since then, however, due to two major hacking incidents at Coincheck and Zaif as well as bitFlyer’s suspension of new registrations, regulatory requirements have become much more strict and costly and the trading environment and sentiment has suffered greatly as a result.
Also, ICOs in Japan have been practically banned or suspended for the time being.
Cryptocurrencies or tokens that are allowed to be officially traded and sold to the public in Japan are limited (so-called whitelist systems) and the list of those coins is maintained and updated by the industry association appointed by FSA.
Notable coins to be excluded by the list are privacy coins such as Zcash, Monero, and Dash.
The treatment of non-fungible tokens and other newer concepts is yet to be clearly defined.
DAG-based blockchain protocol “Coti”
Staffing provider Recruit Co. Ltd announced an investment in blockchain startup Coti.
Coti is the world's first DAG-based blockchain protocol optimized for use by payment dApps, merchants and stable coin issuers. Coti is an enterprise-grade Fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.
Coti provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. Coti’s platform enables companies to effortlessly create advanced Fintech products ranging from payment networks to stable coins, loyalty programs and more.
Developed a cryptocurrency wallet ” Breez “
Recruit Co. Ltd also invested in Breez in June 2019.
Breez enables the simple, fast, and safe use of Bitcoin, allowing users to perform Bitcoin payments and transactions that resemble the experience of a standard credit card or other NFC-based payment system like Apple Pay.
In general, a transaction that takes 10 minutes or more to approve on a blockchain can be safely processed in less than a second, said Recruit Co. Also, since it minimizes mining, power costs and payment fees can be reduced. The company is also developing and providing point-of-sale systems to promote the introduction of cryptocurrency payments.
Provided full transaction confidentiality “Beam”
Beam was founded in March 2018 and issued its cryptocurrency on January 3, 2019. Beam, an implementation built from scratch using the Mimblewimble protocol, is a scalable, confidential cryptocurrency with opt-in auditability. While securing Auditability of transactions by allowing transaction data to be verified by a specified third party, Beam token provides a blockchain with a function that prevents the divulgation of transaction data to third parties and protects the user's transaction information.