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“Blockchain rising: Japan’s cryptocurrency ecosystem leads world”

“Blockchain rising: Japan’s cryptocurrency ecosystem leads world”

Late last year, US-based blockchain startup BitClave raised the equivalent of $25.5 million in 30 seconds following its initial coin offering (ICO). An ICO, or token sale, is a relatively new crowdfunding mechanism that entrepreneurs use to raise money for product development or to fund operations.

ICOs present a new liquidity mechanism and opportunities for innovation, but their meteoric rise has raised eyebrows and the regulatory hammer in a number of jurisdictions.

Apart from ICOs, cryptocurrencies and platforms such as blockchain—the technology underlying this new ecosystem—have come into the cross hairs of regulators following the loss in January of some $530 million in cryptocurrencies that were under the management of Tokyo-based cryptocurrency exchange Coincheck.

For experts who spoke to The ACCJ Journal, innovation via ICOs offer a great number of opportunities for disruption across all sectors. But with foundational issues still outstanding in blockchain, it remains to be seen if the technology is ready for widespread use.




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