Yoshitaka Kitao, CEO of Japnese a giant financial firm known as SBI Holdings, said he believes that blockchain technology will help Japan’s economy grow and will also be the next big boom to trigger it. These remarks were made at the Japanese Blockchain Conference in Tokyo earlier this week.
He believes the changes will happen within the next few years.
“There’s a lot of speculative demand around cryptocurrencies, which is why the price is going up so quickly, but people need to think about how these technologies are being used in real life and how they can improve people’s businesses.”
SBI Holdings recently launched its own cryptocurrency exchange called VCTRADE. It’s currently focusing on XRP- the token that powers the Ripple network.
The platform launched with no transaction fees, but it’s rumored that it’ll start charging a small fee for any withdrawals in Japanese yen in the coming future.
They’ve been a partner with Ripple since 2016. The two companies own and operate SBI Ripple Asia which was built to design how Ripple’s blockchain tech can help cross-border payments.
VCTRADE also recently added support for Bitcoin and Bitcoin Cash to their platform.
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