[2017-09-28] When Fiat goes Paperless: Japan's J-Coin

[Vladdirescu87]

Japan’s banking industry will be launching ‘J-Coin’, a new digital currency that is the digital equivalent to the Yen.

The banks in Japan have been collaborating to create J-Coin, a crypto version of the Yen that they hope to launch by 2020 - just in time for the Tokyo olympics. Unlike most cryptocurrencies, the J-Coin will be pegged to Japan’s national currency, the Yen, this means that unlike Bitcoin and most other cryptocurrencies, J-Coin will be centralized and Japan’s government will be able to play a role in its regulation and economic policy.

Read the full article: https://coinidol.com/japan-to-launch-j-coin/

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[fisheater]

lol sounds like every country will start their own coins, and bitcoin will serve as the cyber gold for everyone.

[CyberKuro]

lol sounds like every country will start their own coins, and bitcoin will serve as the cyber gold for everyone.

Actually, every country that have banks will issue digital form of fiat currency which people could spend it by using some cards like debit card or credit card.
The difference is, this digital fiat currency running through bank system and digital curency running through blockchain system.
An now, many govs doing research to create their own blockchain and want to issue digital fiat currency.

[BitHodler]

lol sounds like every country will start their own coins, and bitcoin will serve as the cyber gold for everyone.

Not that big of a deal. Important factor is that Bitcoin is a decentralized asset, that also allows people to experience a tremendous amount of growth in the coming years ~ so yes, Bitcoin can indeed be seen as digital gold.

People go for rarity and financial freedom, and let Bitcoin exactly offer all that. Countries have to step up their game since everything related to fiat feels insanely old in comparison to the digital era we are living in right now.

I don't see it as a bad thing, or as a competitor for Bitcoin or the crypto industry in general. It's just fiat with all its economical negativity, but then in digital form to not fall behind entirely ~ let them have it, we don't care.