Jump to content
Hynzie

J-Coin potential impact

Recommended Posts

I just saw this article about Japan wanted to launch a J-Coin that will hold value at par to a Japanese Yen. 

What impact do you think this could have for XRP? 

Would vastly more people in Japan having digital currency as their standard currency allow for easier access to cryptos?  

http://uk.businessinsider.com/japan-plans-new-digital-currency-j-coin-2017-9

Share this post


Link to post
Share on other sites
8 minutes ago, Hynzie said:

Would vastly more people in Japan having digital currency as their standard currency allow for easier access to cryptos? 

Yes to the above, and they are largely on board with XRP... it sounds like they may be getting prepared to go live, the question is always, when? 

"Japanese banks are set to launch a new national digital currency"

Share this post


Link to post
Share on other sites
9 minutes ago, GiddyUp said:

Yes to the above, and they are largely on board with XRP... it sounds like they may be getting prepared to go live, the question is always, when? 

"Japanese banks are set to launch a new national digital currency"

According to FT, within a few days!

Share this post


Link to post
Share on other sites
2 minutes ago, calex960 said:

Xrp launching with banks in a few days?


https://www.ft.com/content/ca0b3892-a201-11e7-9e4f-7f5e6a7c98a2

The banks have privately estimated that the new system could add an extra ¥10bn to Japan’s economy by reducing the costs of handling cash and cutting settlement fees for retailers and consumers. They plan to unveil their J Coin plan in the next few days.

 

Share this post


Link to post
Share on other sites
28 minutes ago, Live4xrp said:


https://www.ft.com/content/ca0b3892-a201-11e7-9e4f-7f5e6a7c98a2

The banks have privately estimated that the new system could add an extra ¥10bn to Japan’s economy by reducing the costs of handling cash and cutting settlement fees for retailers and consumers. They plan to unveil their J Coin plan in the next few days.

 

Could you post the article? 

Share this post


Link to post
Share on other sites
56 minutes ago, Hynzie said:

I just saw this article about Japan wanted to launch a J-Coin that will hold value at par to a Japanese Yen. 

What impact do you think this could have for XRP? 

Would vastly more people in Japan having digital currency as their standard currency allow for easier access to cryptos?  

http://uk.businessinsider.com/japan-plans-new-digital-currency-j-coin-2017-9

It would have more impact on Jap Yen then XRP

Share this post


Link to post
Share on other sites

My concern would be that it's a consortium of japanese banks that are combining to bring J-Coin forward. 

Ripple may be losing potential customers if this is developed by banks. 

Ripple could potentially still pick up international transfers and FX transfers from these banks but if J-Coin becomes stable/mainstream this consortium could look to expand its use in these cases in future.

Share this post


Link to post
Share on other sites
6 minutes ago, GiddyUp said:

I think it will fit nicely onto Ripple's systems - there's still cross-currency issues that XRP solves, I don't see a conflict, but a move towards... let's not forget that Japan enjoys heavy commerce with MANY other nations.

GREAT POINT !!!

Share this post


Link to post
Share on other sites

I don't think they're losing customers as  their goal has always been the international market and the disruption of swift .  

It also makes more sense to me that Sovereign nations create their own digital currency like Japan with J-coin, and India which is speculating the idea of the Lakshmi.  These coins would be regulated and compliment the existing financial regulations within a country.  Which from a control perspective makes sense.     

The simplicity of sending payments between J-Coin and  Lakshmi is the virtue of XRP.  

Share this post


Link to post
Share on other sites

×