Rival Groups Have Similar Aims bitcoin casino with practice play mode

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JBA Replaces JADA

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

The new group includes 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 stated both JADA and the authorities 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 said, adding:

Blockchain covers advantages that are broader beyond settlement and currency. There was a need for us to address 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, known as the Blockchain Collaborative Consortium (BCC) around the same time. A common goal is shared by the two groups in growing and nourishing Japan’s blockchain sector .

JBA will maintain standards-setting assignment and the advocacy as JADA, though with a broader view the issues blockchain technology can affectbitcoin for ignition casino bitcoin casino no deposit bonus 2016 Miyaguchi said that all present and future businesses in the blockchain businesses would be advised to combine JBA. She continued:

We are 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 currency and the other. The former group — which worries tax, consumer and issues that are financial — includes bitcoin exchanges such as Coincheck, bitFlyer and Kraken.

The latter group — which concerns definition and policy proposals for non-currency blockchain technology — 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 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, as well as other banking and financial industry groups.

The Association organize events will also encourage and encourage its member businesses, talk to similar industry groups and communicate with similar and related industry groupsfree bitcoin casino software ignition casino bitcoin deposit time counts several big players in the financial and payments space including Deloitte.

Keep an Eye on Japan

Thanks to the technology to the generally open-minded attitude of the government and its regulatory approach, Japan could be fertile ground for money and blockchain businesses.

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

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

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

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

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

Source: bitcoincasinoreview.net



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