Rival Groups Have Similar Aims bitcoin casino with practice play mode

JBA Replaces JADA

Formed in mid-April, the JBA replaces the prior Japan Association of Digital Asset (JADA), that has been active in the industry since July 2014.

The new group consists of high-profile members of the Japanese blockchain industry in addition to member of Parliament (and long-time Bitcoin proponent) Mineyuki Fukuda and Japan’s main financial regulator the Financial Services Authority (FSA).

Talking to Bitcoin.com, JBA’s Head of Global Affiliations and Partnerships Ayako Miyaguchi stated both JADA and the government had received requests for a nationwide blockchain industry association.

“JADA was more focused on self regulations as it had been necessary for the industry to gain trust from the public about bitcoin Then,” she explained, adding:

Blockchain covers advantages that are wider beyond settlement and money. There was a need for us to address those at the exact same time as securing healthy regulations working with government authorities and bitcoin internet casino australia.

Rival Groups Have Similar Aims

There was perhaps some confusion this month with the launch of a rival group within Japan, known as the Blockchain Collaborative Consortium (BCC) around the exact same time. Both groups share a common goal in developing and nourishing Japan’s blockchain industry despite their differences in leadership.

Though with a view the issues blockchain technology may affect JBA will maintain the exact same advocacy and standards-setting mission as JADAbitcoin casino with shisa statues free bitcoin casino no deposit bonus Miyaguchi said that all existing and future businesses in the blockchain businesses would be advised to join JBA. She continued:

We’re associations including the Global Blockchain Forum, in addition to the point of contact to governmental authorities.

Structure & Mission

JBA will have two divisions: one dealing with another and currency with blockchain technologies in general. The group — which concerns tax, consumer and issues that are financial — comprises bitcoin exchanges such as Coincheck, bitFlyer and Kraken.

The group — that concerns definition and policy proposals for non-currency blockchain technology — includes payments gateway GMO Internet Group Microsoft Japan cloud computing platform Orb and blockchain identity startup Soramitsu.

The group aims are to:

  • Apply blockchain technology to social infrastructure and policy recommendations;
  • Establish guidelines for bitcoin and other digital currency exchanges;
  • Facilitate communication between the business and government departments like the FSA, the Ministry of Economy, Trade and Industry (METI), the Consumer Affairs Agency and the National Police Agency and the Tax Bureau, in addition to other financial and banking industry groups.

The Association will encourage and encourage its member companies, organize events, speak to similar industry groups internationally, and communicate with industry groupscryptogames site counts several big players in the space including Deloitte, Thomson Reuters, credit card company, and VC investors SBI Holdings JCB.

Keep an Eye on Japan

Due to the generally open-minded attitude of the government and its approach to the technology, Japan could be fertile ground for digital currency and blockchain businesses.

True news about the industry can be tricky to find, however, with reports that are vague often gaining prominence on news aggregators and networking.

English language news had legislated, that Bitcoin would be described as an official currency in the country, or reported the Japanese government was considering legislating.

That’s not the case, Miyaguchi said. In order to draft the most suitable laws in future, bitcoin isn’t yet an official currency in Japan but the government has identified a need to be defined as something similar.

Can Japan be a world leader in creating digital money and blockchain technology? How important are industry groups like BCC and JBA?

Images courtesy of itpro.nikkeibp.co.jp, Shutterstock

Source: bitcoincasinoreview.net

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