Japan's Crypto Industry to Launch Self-regulating Body

Japanese crypto associations join forces to form a self-regulating body
16 February 2018   293

Japan’s two cryptocurrency industry groups the Japan Blockchain Association and the Japan Cryptocurrency Business Association are planning to merge to form a self-regulating body, seeking to better safeguard investors after last month’s $530 million heist of cryptocurrency. This is reported by Reuters.

The new organization may appoint the heads of the two existing associations as chairman and vice chairman. The Japan Cryptocurrency Business Association said in a statement that nothing has been decided. 

The Coincheck heist exposed flaws in Japan’s system and raised questions over the country’s dash to regulate the industry - a sharp contrast to clampdowns by countries like South Korea and China.

We have recently reported that the UK’s leading cryptocurrency companies have joined together to launch a self-regulatory trade body called CryptoUK to improve industry standards and engage policymakers on the future of the sector.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   72

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208