We visited JPYC Corporation at FINOLAB (Fintech Center Of Tokyo), a shared office in Otemachi where all financial startups gather. Thank you very much to Mr. Noritaka Okabe, Mr. Naohiro Kakizoe, and Mr. Keinosuke Takemori.
This is a unique shared office that also houses “Wise” (formerly TransferWise), which I always use for international money transfers.
JPYC (JPYCoin) is Japan’s first Japanese Yen stable coin utilizing blockchain technology (ERC20). It runs on the mainnet of Ethereum, and goods can always be bought and sold at 1 JPYC = 1 JPY.
There are more than 80 table coins worldwide, and the number is increasing daily. One of the most representative table coins is “Tether,” which is linked to the US dollar. Tether” is known as one of the major virtual currencies and accounts for 80% of Bitcoin trading volume. However, there has been some disreputable news recently, and USDC’s credibility is increasing, so check it out well.
Since virtual currency exchanges are totally banned in China, assets are evacuated through schemes such as “Renminbi -> Tether (by USDT) -> Bitcoin”.
Money always seeks diversity that reflects people’s psychology and desires. So there are situations where people who feel that virtual currencies are risky due to their volatility also need that democratic idea.
Stablecoin meets such demand. Even though virtual currencies are in vogue, there are still a few areas and products that can be used. Conversely, from the perspective of virtual currency, there are times when real currency is needed. In such cases, stablecoin can be useful.
For example, a college student who has little cash in the real world and plays only smartphone games can become crypto-rich (rich in virtual currency) from game affiliation income before long. When these people want something in the real world, they don’t have cash, so they can buy V-prices (prepaid cards that can be used online) via stable coins such as JPYC, from which they can send real currency to PayPay and so on. In the US (USTD), they also have token prepayment cards that can be used to purchase house-level items as well.
JPYC has announced a series of new services. The community platform HiÐΞ is an attempt to increase the value of blogs, communities and fan clubs via stable coins.
I believe these decentralized economies will grow significantly in the future.
If you don’t know what it is, please study it.
What is the hot stablecoin? Explains how it works and its three advantages
P.S.: It was a modern touch to have a butterfly peepee in the office kitchen instead of just a coffee maker.