{"id":2280,"date":"2017-04-18T11:41:35","date_gmt":"2017-04-18T11:41:35","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2280"},"modified":"2021-08-30T20:27:39","modified_gmt":"2021-08-30T18:27:39","slug":"bitcoin-in-japan","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/04\/bitcoin-in-japan.html","title":{"rendered":"Bitcoin in Japan: a new way to evaluate blockchain projects"},"content":{"rendered":"<p>While there is lack of clarity related to the regulation of <strong>Bitcoin in Japan<\/strong>, one of the Japanese government ministries has worked to develop a new way in order to evaluate projects related to the distributed ledger tech.<\/p>\n<p>The\u00a0<strong>Ministry of Economy, Trade and Industry (METI)<\/strong>, in fact, announced a few details about this new methodology, that was created by the\u00a0<strong>Information Economy Division of the ministry&#8217;s Commerce and Information Policy Bureau.<\/strong><\/p>\n<p>According to a presentation \u00a0<a href=\"http:\/\/www.meti.go.jp\/english\/press\/2017\/pdf\/0329_004a.pdf\">published <\/a>a few days ago,\u00a0METI will exploit this process to consider projects for a variety of use cases, by evaluating more than <strong>30 different characteristics<\/strong> including project scalability, privacy and overall reliability.<\/p>\n<p>People involved with the creation of this new methodology explained it was developed to impartially weigh blockchain-related projects.<\/p>\n<p>The official presentation explains:<\/p>\n<blockquote><p><em>&#8220;No evaluation indices or criteria had been established to adequately assess the features of the technologies and to compare them with existing systems. This causes the public anxiety, misunderstanding, and unreasonable hopes to blockchain technologies, and leading to a potential unwillingness to introduce the technology.&#8221;<\/em><\/p><\/blockquote>\n<p>It is not a big surprise that the Japanese ministry is involved in this project, as it has <strong>already supported the blockchain<\/strong> technology in the past.<\/p>\n<p>METI, in fact, is conducting some\u00a0<a href=\"http:\/\/www.coindesk.com\/japan-ministry-economy-trade-industry-blockchain\/\" target=\"_blank\" rel=\"noopener\">researches<\/a>\u00a0about\u00a0the technology since 2015, commenting that the government should play a supporting role. Also, the Japanese ministry has sponsored a <strong>trip abroad<\/strong> for local bitcoin and blockchain-based startups.<\/p>\n<p><a href=\"https:\/\/holytransaction.com\/blog\/search\/japan\">Click here<\/a> to read more about Bitcoin in Japan news.<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>While there is lack of clarity related to the regulation of Bitcoin in Japan, one of the Japanese government ministries has worked to develop a new way in order to evaluate projects related to the distributed ledger tech. The\u00a0Ministry of Economy, Trade and Industry (METI), in fact, announced a few details about this new methodology, [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":2285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,101,468],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin in Japan: a new way to evaluate blockchain projects -<\/title>\n<meta name=\"description\" content=\"While regulation of Bitcoin in Japan lacks of clarity, Japanese ministry of Economy created a new method to evaluate blockchain-related projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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