Rival Groups Have Similar Aims bitcoin casino with practice play mode
JBA Replaces JADA
Founded 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 sector as well as member of Parliament (and long-time Bitcoin proponent) Mineyuki Fukuda and Japan’s main financial regulator the Financial Services Authority (FSA).
Speaking 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 was necessary for the business to gain trust from the public about bitcoin Then,” she explained, adding:
Blockchain covers advantages that are wider beyond currency and settlement. There was a need for us to deal with those at the same time as securing healthy regulations working with government authorities and bitcoin online casino australia.
Rival Groups Have Similar Aims
There was perhaps some confusion this month with the launch of a rival group within Japan, called the Blockchain Collaborative Consortium (BCC) around the same time. A common goal is shared by Both groups in growing and nourishing Japan’s blockchain industry despite their differences in direction.
JBA will maintain the exact same advocacy and standards-setting mission though with a broader view the issues blockchain technology can influencebitcoin casino usa visa bitcoin mining vs casino Miyaguchi stated, however, that eventually all existing and future businesses in the blockchain businesses would be advised to combine JBA. She continued:
We’re global associations including the International Blockchain Forum, in addition to the point of contact to authorities.
Structure & Mission
JBA will have two divisions: one dealing with blockchain technologies in general with virtual currency and another. The group — which concerns tax, customer and issues that are financial — comprises bitcoin exchanges like bitFlyer Kraken and Coincheck.
The group — that concerns definition and policy suggestions for blockchain technology — includes payments gateway GMO Internet Group, Microsoft Japan , blockchain cloud computing platform Orb and blockchain identity startup Soramitsu.
The team’s primary aims are to:
- Apply blockchain technology to social infrastructure and policy recommendations;
- Establish guidelines for bitcoin and other electronic 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 banking and financial industry groups.
The Association organize events will also encourage and encourage its member companies, talk to similar industry groups and communicate with similar and related industry groupsbitcoin biggest online casino bitcoin casino double spend counts big players in the financial and obligations 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 money and blockchain businesses.
News about the industry can sometimes be difficult to find, though, with reports that are vague gaining prominence on news aggregators and social media.
English language news had legislated, that Bitcoin would be defined as an official currency in the country, or reported the government considered legislating.
That’s not the case, Miyaguchi stated. Bitcoin is not yet an official currency in Japan but the government has identified a demand to be described as something similar, so as to draft the most appropriate laws in future.
Can Japan be a world leader in developing digital money and blockchain technology? How significant are industry groups like JBA and BCC?
Images courtesy of itpro.nikkeibp.co.jp, Shutterstock
Source: bitcoincasinoreview.net
