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Coincheck earned $490 million before being hacked

Japan-based cryptocurrency exchange Coincheck, infamous for the enormous heist earlier this year, had earned 53.2 billion yen ($490 million) in the period between April 2017 and January, when the hack occurred. 

Yet, in February and March, the exchange made a profit of 500 yen. The case illustrates how lucrative can operating a cryptocurrency exchange be. This April a Japanese retail brokerage Monex bought Coincheck for 3.6 billion yen and will be splitting the profit with the previous shareholders for the next 3 years.

Fujitsu Helping Create a Blockchain Product Within 5 Days

Fujitsu Helping Create a Blockchain Product Within 5 Days

Japanese leading information & communication technology (ICT) company Fujitsu is launching a new Blockchain productization framework: it allows clients to develop a Minimum Viable Product (MVP) in just 5 days. The service will include everything from lessons on Blockchain basics to the assessment of the proposed use cases and prototype building by the fifth day. Assessments will be led by experienced experts providing ideas and insights. Afterwards, clients can choose to keep working on the product or leave it as it is. The price for the service starts at $9,000. The framework is built around the proof-of-business approach enabling clients to test their projects going through the whole business process in a brief period. Currently, Fujitsu holds around 50 patents on Blockchain technology projects and multiple related services.

 

Sony to File Patents on Blockchain-Focused Devices

Sony to File Patents on Blockchain-Focused Devices

Japanese leading tech company Sony is to patent 2 hardware approaches for facilitating and maintaining blockchains.

The two filings named "Electronic Node and Method for Maintaining a Distributed Ledger" and "Device and System" are uncovering that the organization is working on blockchain-related hardware concepts. Potentially, these devices will be included in a future product. Earlier, Sony has filed patent applications focused on blockchain use cases, such as education data management and security. read more

Japanese Cryptocurrency Industry Group to Strict the Rules on Digital Assets Management

Japanese Cryptocurrency Industry Group to Strict the Rules on Digital Assets Management

Japan’s self-regulating body for cryptocurrency operators is going to tighten the rules on the management of customer’s assets after another hacking incident this September. JVCEA is planning to limit the number of digital currencies that a user can manage online. According to The Japan’s Times, “the ceiling is likely to be around 10 to 20 percent of customer deposits.”

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The Upcoming Summer Olympic Games in Tokyo 2020 Would Be Rippled

The Upcoming Summer Olympic Games in Tokyo 2020 Would Be Rippled

A user has started a petition to make cryptocurrency Ripple (XRP) an official currency of the Olympic Games in 2020 and got almost 10,000 signatures. 

Connecting People

Ken Takahashi, a creator of the petition, is going to propose to National Olympic Committee to make Ripple as a currency of the Olympics. Takahashi thinks that it is a perfect solution of the language barrier, long queues and other issues that always strike worldwide events. 

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Yen-pegged Cryptocurrency Will Be Released in 2019

Yen-pegged Cryptocurrency Will Be Released in 2019

The popularity of stablecoins is growing day by day. We’ve already informed you about the launch of pound-pegged coin LBXPeg, and here goes Japan.

GMO Internet, Inc. develops Internet infrastructure. The corporation started cryptocurrency exchange business in May 2017 and mining business later in December 

The company is listed as #1 at Tokyo Stock Exchange. GMO Japanese Yen (GJY) will be available in the market in 2019.

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