Japan's largest bank Mitsubishi UFJ to release their own crypto.

[tonmoycrypto]

So this got me thinking why wouldn't all other financial institutions & companies create their own crypto instead of buying into existing and expensive cryptocurrencies? For example for privacy & security why couldn't the Swiss Bank create their own private cryptocurrency instead of using DASH or MONERO? Or logistics & supply chain related cryptos Vechain/Wabi/Walton why wouldn't multi-national companies just create their own? Or even IoT, AI related cryptos like Cindicator, Deepbrainchain, IOTA, why couldn't IBM or Google create their own instead of buying already expensive and inflated cryptos?

[Hanablue]

If that's true then it will be a great news for crypto lovers. Atleast someone from Asia supporting cryptos 

[jdbao]

In the real world, people have done so, except that the main body is the state rather than the institution, and the state also has to find a way to make the currencies of different countries exchange with each other and circulate. If the company creates their crypto, they will also encounter the corresponding problems for exchanging, so it might as well accept the existing crypto such like Dash, right?

[mworld12]

So this got me thinking why wouldn't all other financial institutions & companies create their own crypto instead of buying into existing and expensive cryptocurrencies? For example for privacy & security why couldn't the Swiss Bank create their own private cryptocurrency instead of using DASH or MONERO? Or logistics & supply chain related cryptos Vechain/Wabi/Walton why wouldn't multi-national companies just create their own? Or even IoT, AI related cryptos like Cindicator, Deepbrainchain, IOTA, why couldn't IBM or Google create their own instead of buying already expensive and inflated cryptos?

The fact that many banks are now creating their own cryptocurrencies presents benefits and also challenges to i'ts users.While bigger cryptocurrencies created by banks would be more widely available and anonymous (relatively, at least), they would also require stricter regulation. Adoption by banks could also revolutionize banking at large by leveraging blockchain methodology on a larger scale.

[sekapai]

This is a good news. Japanese always lead to be the 1st.

[Teraboy]

So this got me thinking why wouldn't all other financial institutions & companies create their own crypto instead of buying into existing and expensive cryptocurrencies? For example for privacy & security why couldn't the Swiss Bank create their own private cryptocurrency instead of using DASH or MONERO? Or logistics & supply chain related cryptos Vechain/Wabi/Walton why wouldn't multi-national companies just create their own? Or even IoT, AI related cryptos like Cindicator, Deepbrainchain, IOTA, why couldn't IBM or Google create their own instead of buying already expensive and inflated cryptos?

Because they will have known about the fact they will get all of the control over their asset and they don't need to buy the current coin. If you can make your coin with low price and why makes you feel you must try to obtain current currency? So are you still feeling curious about another reason?

[Marco Ambrusini]

this will really become huge.Ripple will have a major competitor in the industry.
Its very amazing how central banks are now indulging in cryptocurrencies

[beggo]

I will definitely buy into that coin! Can you imagine if that actually happens?? Dang, to the moon we go!! The profits would be insane

[k@suy]

this will really become huge.Ripple will have a major competitor in the industry.
Its very amazing how central banks are now indulging in cryptocurrencies

Thats good, Japan is always at pace with technology. They are fast to act and join the Fintech industry. Also, this is good for late comer to invest in the industry and gain more profit too.

[PureLove]

japan always support cryptocurrency more than other countries. that is why people prefer the btc invented by japan. in my opinion, the cryptocurrency is a national economy policy of japan and it is not surprising that their bank has its own cryptocurrency.however, for other country, i still think it is a long time before they would indeed accept the cryptocurrency.

[jbautistangina]

Because most of the people in japan including the old ones has now accepted the use of cryptocurrencies,on the other side of the world most of the countries still doesnt have any knowledge about cryptocurrencies,it will take time for them to have some knowledge so they can adopt to the technology it has.If this is true mitsubishi will surely achieve success and most of the big companies you have mentioned above will surely follow mitubishi's footsteps.

[gestknpa]

This is a good news. Japanese always lead to be the 1st.

Japan's efforts in economic development are seen. They may be able to use the virtual currency of this technology in the world to get something. They never banned encryption. And joined in.

[jomz312]

Because the Japanese have felt that the cryptocurrencies are a scary thing but trading volumes have increased as many.
The world cryptocurrency has been voted as one of the most influential buzzwords in the country as will.
Japan share of the market can be attributed perhaps mainly due to a recent crackdown on cryptocurrency trading in South Korea and China living Japan the lions of share, not just Asian bitcoin business i think the world.

[andor.gellenhidi]

This is certainly very good news, but I have one question, what does this coin solve in the end? Why is it created and what is its purpose? I have great respect for Japan, because this is one of several countries in which Bitcoin is authorized

[srmecdes]

This way is mandatory for all financal companies. Otherwise they will be out of date..

[limmousine]

All countries have to learn from japan about crypto regulation. Look at japan now, are there any problems arising from crypto? Crypto has played a very good role in his country.

I hope that many countries can follow Japan's example of crypto regulation, so that more companies are expanding into crypto.

[iluvbtc]

Pardon my french, but FU*K all banker crypto, including Ripple

[toddy47]

Not really a true cryptocurrency though is it, simply intended to be as centralized and controlled as possible.

[Malaya]

So this got me thinking why wouldn't all other financial institutions & companies create their own crypto instead of buying into existing and expensive cryptocurrencies? For example for privacy & security why couldn't the Swiss Bank create their own private cryptocurrency instead of using DASH or MONERO? Or logistics & supply chain related cryptos Vechain/Wabi/Walton why wouldn't multi-national companies just create their own? Or even IoT, AI related cryptos like Cindicator, Deepbrainchain, IOTA, why couldn't IBM or Google create their own instead of buying already expensive and inflated cryptos?

This is an amazing news though. This shows that a bank institution is capable of doing their own cryptocurrency. Though Japan has been really good in adopting new ideas or they have this attributes of continuously improving things, we can say that Japan is really eligible for doing this so.

[crazyfrog01]

Well not sure whyt to think about it, I mean it goes against the main thinking of crypto, going away from banks.