Bank of Japan asserts immaturity of digital currency

Representatives of the central bank say that cryptocurrency cannot replace public money
23 November 2017   880

During a FinTech forum in Tokyo, the head of the Bank of Japan (BOJ) Hiromi Yamaoka announced that he doesn’t support the idea of substitution of physical money by cryptocurrecy. He noticed that Japan is a country with established financial infrastructure, which is free from the danger of digital money expansion. Yamaoka suggested that digital money is out of government control and that is the reason of its immaturity.

Besides that, the Bank of Japan emphasized that the excitement for ICO, which is inextricable linked to cryptocurrency, is impressive. A number of smaller japanese banks does not share the view of the central bank. They are trying to use the blockchain technology in a money transmission, which can replace existing unprogressive payments platform named “Zengin”.

The problem is that Japan — one of the most developed countries — remains behind China and Korea because of underdevelopment of payment systems. The ministers of Japan decided to implement a FinTech growth strategy to increase the percentage of adoption rate of cashless payments from 19 to 50%.


Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.