Rival Groups Have Similar Aims bitcoin casino with practice play mode

JBA Replaces JADA

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

The new group consists of high-profile members of the Japanese blockchain industry 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 said both JADA and the government had received requests for a nationally blockchain industry association.

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

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

Rival Groups Have Similar Goals

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 same time. A common goal is shared by Both groups in nourishing and growing the blockchain industry of Japan .

Though the issues blockchain technology may influence JBA will maintain standards-setting assignment and the exact same advocacy as JADAcryptogames review Miyaguchi said that eventually all existing and future businesses in the blockchain businesses would be advised to join JBA. She continued:

We’re global associations including the International Blockchain Forum, as well as the point of contact to authorities.

Structure & Mission

JBA will have two branches: one dealing with the other and virtual money with blockchain technologies in general. The group — which worries tax customer and financial regulatory issues — comprises bitcoin exchanges like bitFlyer, Kraken and Coincheck.

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

The primary aims of the group are to:

  • Apply blockchain technology to social infrastructure and policy recommendations;
  • Establish guidelines for bitcoin and other digital currency exchanges;
  • Facilitate communication between the industry 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 will promote and support its member companies, organize promotional events, speak to similar industry groups and communicate with similar and related industry groupsbuilding a bitcoin casino bc casino bitcoin gambling counts several big players in the payments and financial space Thomson Reuters, such as Deloitte, credit card company, and VC investors SBI Holdings JCB, as official supporters.

Keep an Eye on Japan

Due to the government’s generally open-minded attitude and its approach to the technology, Japan could be fertile ground for money and blockchain businesses.

News about the industry can be tricky to find, though, with reports that are vague gaining prominence on social networking and news aggregators.

English language news had legislated, that Bitcoin could be described as an official currency in the country, or reported the government considered legislating.

That is not yet the case, Miyaguchi stated. In order to draft the laws in future bitcoin isn’t yet an official currency in Japan but the government has identified a demand to be described as something similar.

Can Japan be a world leader in developing digital money and blockchain technology? How significant are industry groups such as BCC and JBA?

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

Source: bitcoincasinoreview.info

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