Japan to launch a J-Coin cryptocurrency

The Japanese banks consortium headed by Mizuho Financial Group and Japan Post Bank plans to launch a national digital currency
26 September 2017   1212

The Japanese banks consortium headed by Mizuho Financial Group and Japan Post Bank plans to launch a national digital currency, as reported by ft.com.

The Japanese authorities and the central bank are claimed to support the project aimed at developing a solution that will allow citizens to pay for goods and services using smartphones. It is expected that a new crypt currency called J-Coin will be released before the start of the Summer Olympic Games 2020 in Tokyo.

Thus, as reported, 70% of all payments in Japan are made in cash. For banks and government, such dependence entails additional costs, e.g. financial institutions are forced to bear the extra costs associated with transportation, collection and audit of large amounts of cash. 

I think this electronic money is quite ahead of [credit and debit] cards, because when you use the cards the shops pay a certain fee.
 

Yasuhiro Sato
Mizuho Financial Group president and chief executive officer 

The consortium of banks has calculated that, thanks to the new cryptocurrency, Japan's economy will be able to receive at least 10 billion yen ($90 million) additionally. In this case, the rate of the digital currency J-Coin will be tightly tied to the rate of the Japanese yen in the ratio of 1: 1.

It's also worth mentioning, that a bit earlier the Japanese Mizuho Financial Group has also teamed up with tech conglomerate Hitachi in order to use blockchain platform for supply chain management.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   238

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.