Japan's financial giants and longtime ripple partner SBI CEO said that they believe that investment and initial adoption of cryptocurrency and blockchain technology will be crucial to the country's next economic boom. SBI CEO is looking for blockchain for economic boom
Yoshitaka Kitao, CEO of Tokyo Yoshitaka Kitao, spoke about the concept of Blockchain to bring Japan's economy back to the track to achieve the once-global global event. Forbes, Chief Executive Officer of one of Japan's largest financial services providers, cited:
"We want to take blockbones beyond financial, there is a very demanding demand around cryptocurus, that is why the price is rising so fast, but people need to think how these technologies are being used in the actual technique. And how they can improve the improvement of people's professions. "
From the mid-1970s to the mid-1980s, Japan was the second largest GDP in the world (after the US). By the 1990s, things had changed and the country fell into an economic recession, known as the decade lost in Japan.
SBI is investing in technical companies, which is focused on improving mobile connectivity with internet technology (IOT) of 5G technology, artificial intelligence and things through the $ 460 million US dollar AI and Blockchain funds established at the beginning of this year.
Investment fund fee free crypto exchange part
Since investing in the company in 2016, SBI has partnered with Ripple. As co-owners and operators of SBI-Ripple Asia, they are dedicated to discovering the use of blockbuster ripples to improve international bank transfer. SBI launched its own Crypturrency Exchange earlier this month. The VCTRAD fee does not charge any transaction fees and is centered on the company's original token business XRP of San Francisco-based company.
The exchange is planning to add support for Bitcoin and Bitcoin cache in the coming months, as well as fees to withdraw the Yen, although no official date has been given for any changes so far.
The company has also invested in the renewable energy wind farm to minimize the bitcoin cache, in which Kita says that there is the ability to decrease bitcoin. The CEO said before continuing the need for real utility in the technology, "Bitcoin is very expensive and people are holding it and expect it to increase in value."
"There is a very demanding demand around cryptocurus, this is the reason that the price is rising so fast, but people should think about how these technologies are being used in real technology and how they improve people's business can do."