Cryptocurrencies became more popular as more people are willing to invest in various crypto-related projects. Moreover, even central banks decided to learn more about this emerging technology. Japan is a technologically advanced country. Thus, it has the opportunity to develop its national crypto currency.
Last week, Japanese lawmakers submitted a proposal to the Japanese government. A group of Japanese lawmakers asked the government to create Japan’s digital currency. According to the information, 70 politicians from the ruling Liberal Democratic Party worked on the proposals. Former economy minister Akira Amari is the leader of this group.
Norihiro Nakayama commented on this topic. He said that China’s digital yuan would challenge the existing global reserve currency system.
Nakayama also mentioned another challenge for the central bank. According to Nakayama, Libra may undermine the monetary policy of the central bank. In this situation, national crypto money should counter problems such as Libra and China’s digital currency.
Crypto events in Hong Kong and Vietnam
Countries around the world have to adapt to reality as the coronavirus outbreak affected many events. For example, organizers had to postpone the crypto conference in Hong Kong. The TOKEN2049 crypto conference scheduled for March 17-18 will take place in several months.
Based on the information provided by the organizers, the event will remain the same in most aspects. Nevertheless, there might be some changes if new speakers would attend this conference.
Moreover, crypto exchange Binance decided to postpone its Binance Blockchain Week Vietnam. It was scheduled for February 29 to March 4 in Ho Chi Minh City.
Binance released the statement regarding this decision. Crypto exchange underlined the importance of health and safety. Binance decided to protect the people who planned to attend the Blockchain Week Vietnam by postponing this event.
Crypto companies made the correct decisions as it is better to avoid any unnecessary risks.