One of the most important economies in terms of potential, influence, development and adaptation to new technologies is undoubtedly the Japanese economy. For decades the activity in terms of industrial and economic development of Japan has been a successful model that serves as an example of attitude of will, discipline and vision. It is no accident that Japan is the first country in Asia to admit cryptocurrencies as payment instruments for legal use, unlike other neighboring countries that have limited them.
For many reasons, it is expected that in Japan the local economy will begin to experience a new economic boom, in which blockchain technology and cryptocurrencies can make a great contribution as part of that push.
There are voices with authority in the Japanese financial sector such as Yoshitaka Kitao, who is executive director SBI, who believes that the blockchain-related technologies would contribute significantly to Japan’s next economic boom, and this would be notorious.
In terms of economic measures, it is considered that the Japanese economy has been experiencing economic stagnation. Taking into account other moments comparatively as when during the seventies the GDP of Japan was the second largest in the world just behind the USA, since the 1990s, Japan has experienced less growth than it could have, despite everything.
Although the above is true, Japan could re-launch its economy with a technological boom in the hands of new technologies and the context that this would bring, such as the Internet of Things (IoT), artificial intelligence, improved mobile connectivity to through 5G technology, and of course, blockchain technology and cryptocurrencies.
Putting concrete examples to this assertion we can mention again the financial giant SBI, which has established an AI and Blockchain Fund this year. The Fund is investing $ 460 million in companies in Japan and East Asia dedicated to these technologies.
The particular vision of SBI in these investments is to help the development of these technologies result in daily events for real life, away from any speculative event, and to drive the business and economies of people and companies.
Japan is taking steps that are very coherent with the integrating vision of new technologies in a context of economic momentum. The adoption of cryptocurrencies as a legal payment instrument evidences this, and as a result, Japan is already ensuring a regional leadership position in the cryptographic movement in Asia, with a balanced understanding regarding regulation and security for investors and users of cryptocurrencies and blockchain ventures. The Japanese investor is increasingly aware of the potential of blockchain and is providing great support to initiatives of companies that through their ICOs have been taking place.
We will see in the near future how this economic boom in Japan is taking more and more form, and how blockchain and cryptocurrencies will be an indispensable part of it.