Blockchain wins backing in Japan as Libra tips scales
Japan's big, established brokerage houses are opening up to blockchain -- the technology behind bitcoin -- in a growing recognition of its game-changing potential despite a year and a half of setbacks for cryptocurrencies.
100 Japanese manufacturers harness blockchain to share data
Mitsubishi Electric and Yaskawa Electric are among 100 major Japanese manufacturers set to share production data with each other to improve efficiency, using blockchain technology to ensure their information remains secure, Nikkei has learned.
Cryptocurrency advancements propel global hopes
Mike Kayamori, the co-founder and CEO of Liquid Group Inc., spoke about how blockchain technology is changing society and associated global trends at The Japan Times Advanced Technology Forum held in Tokyo on May 31. The forum was supported by the Ogasawara Foundation for the Promotion of Science and Engineering as one of its subsidized projects.
Effort to nudge Japan to go cashless with offsets to sales tax hike faces many hurdles
On Oct. 15, Prime Minister Shinzo Abe confirmed during an extraordinary Cabinet meeting that the government would raise the consumption tax from 8 to 10 percent next Oct. 1. The tax hike has already been postponed twice owing to jitters over how it might affect consumption. The last consumption tax increase, in 2014, sparked a recession, and reportedly there is still a chance that Abe might postpone the hike once again if economic indicators show a similar scenario. Consequently, the prime minister said the government would do its “utmost to minimize a negative impact on the economy by implementing all sorts of policies.”
Zaif cryptocurrency breach victims remain shortchanged
The Japanese cryptocurrency exchange that lost over 7 billion yen ($61.5 million) to hackers last month has yet to repay the victims of the breach, while both industry and regulators seek stronger consumer protections against the risks plaguing the field.