Asia Narratives: Koinup
Asia is a hotbed for the development and adoption of crypto products and networks. The CoinDesk Korea team takes a survey of who’s doing what, where. Koji Higashi, a noted blockchain investor, discusses the development of the Japanese crypto-economy, especially in light of the nation’s strict regulatory framework. “Unless you fix it, it will be very difficult to use crypto as a payment system in Japan,” Higashi said. The blockchain market isn’t far off from other markets, but is smaller than the U.S., European and Chinese markets. “There’s few companies or projects that have confidence in infrastructure development,” he said, noting novel base layers being developed in China. Addition to regulatory impediments, there are cultural barriers as well. “It’s hard to make money in this space, there’s no clear product-market fit for most blockchain projects,” meaning that most large Japanese companies are willing to make investments in distributed technologies.