Japan Is Going Big On Bitcoin and Cryptocurrency.

I believe crypto currencies will offer a real alternative to (Some predict they will even replace) traditional banking.For example it will be welcome in less wealthy countries that do not have banking facilities,and will enable and inspire growth and development.

It will also be taken up in remote areas and towns of advanced countries where the banks have closed branches, leaving citizens and small businesses bankless. There may be access to online banks through the internet, but purchases that way involve three parties - The purchaser,the middle man (bank) and the supplier.

Cryptocurrency transactions are Peer to Peer. Purchaser and Supplier. No Bank.The Purchaser will fund their Crypto account i.e Prime the Pump, the transaction can take place,and is recorded in the Blockchain.

Can you see why there is so much excitement about this invention ? 'It's Time Has Come.' 'Need is the mother of Invention' and the banking and financial crisis of 2007 started clever minds thinking of a way to prevent irresponsible manipulating of the financial system happening again.It is no co-incidence that Bitcoin, the first and best known cryptocurrency made it's appearance in 2009.

 I subscribe to a Bitcoin news agency, and my inbox is bombarded at present with news alerts on the subject

This Japanese news item is typical of the frenzy -.

Japanese Airline Service Peach Aviation Will Soon be Accepting Bitcoin for Flights

Japanese Airline Accepts Bitcoin,as Cryptocurrency Fever Spreads Across the Region. Headquartered in Osaka Japan, Peach Aviation is a well-known Japanese air carrier service offering low-cost air travel since 2011.

The company stated that bitcoin will be accepted for flights and services at some point towards the end of 2017. Peach said the recent law change regarding the digital currency had bolstered the business move. According to reports Peach also plans to introduce bitcoin to other partner companies and local governments.

“We want to encourage visitors from overseas, which will help in the revitalization of Japan’s regions,” Shinichi Inoue, the founder and CEO of Peach explained. “This is a real first step in partnerships for Japan, and we are aiming for more company and service tie-ups.”

Bitcoin Fever Takes Hold in Japan

The news of Peach Aviation accepting bitcoin follows other merchants in the region accepting bitcoin like the company Bic Camera. Furthermore, the announcement comes at a time where Japanese bitcoin trade volumes and price spreads have been through the roof.

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https://bitcoin.org/en/faq

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In the video below The International Monetary Fund Managing Director - Christine Lagarde - talks about the pros and cons of the alternative digital Crypto Currencies such as Bitcoin.

“It is good that it will take banking to parts of the world where there are no banks, and also compel traditional banks to meet competition by improving their services.

On the down side it is loved by crooks, fraudsters and terrorists. It is also a ‘Threat to the Financial Institutions” (Hearing that, the pro Bitcoin video presenter made an aside – (‘She means Her Job’)

Video - Bankers Explain Plan to Stop Bitcoin. Guest Speaker Christine Lagarde. Managing Director. International Monetary Fund.

https://youtu.be/W8TyZgJWUkA

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