#CryptoCorner; Japanese Official Addresses #Crypto Concerns, Russia’s Central Bank Considers #Blockchain and Market Dips Again

#CryptoCorner; Japanese Official Addresses #Crypto Concerns, Russia’s Central Bank Considers #Blockchain and Market Dips Again

Point Roberts, WA, Delta BC –April 4, 2018 -  Investorideas.com, a leader in crypto and blockchain investing news reports on what’s driving the cryptocurrency markets with today’s edition of Crypto Corner.

Crypto Corner –April 4, 2018
By Samuel Mowers at Investorideas.com 

Japanese Official Addresses Crypto Concerns, Russia’s Central Bank Considers Blockchain and Market Dips Again

The Chief Planning Officer for Japan’s Financial Public Relations Central Committee, Masashi Kuramoto, produced a Q&A addressing cryptocurrencies recently, in which he addressed many concerns about the phenomenon.

Kuramoto denied that cryptocurrency could be considered “money” in the way fiat currencies are, as they are not issued by a central authority.

“...it is legally stipulated that the "money" (yen) we use everyday is issued by the central bank of the country, the Bank of Japan, and it can be used as a currency in Japan. In other words, "money" we are using all the time is backed by the credit of the country, so anyone can use it with confidence. On the other hand, "virtual currency" does not support such a law. Also, in many cases, there is no issuer such as a central bank or a corporation or a financial institution, so that nobody has confidence in that trust, it can be said that it is different from "money."

Many in the space may argue that it is precisely the decentralized nature of crypto that makes it more trustworthy than fiat. Kuramoto goes on in the piece, however, to encourage the use of crypto as an actual currency, as opposed to merely speculating, and warns investors of potential risks in the space.

According to TASS, Russia’s central bank is considering using its Masterchain ethereum-based blockchain system to handle payments within the Eurasian Economic Union (EAEU). Russian Central Bank First Deputy Chairman Olga Skorobogatova said:

"We are currently discussing the possibility of creating new technologies for transmitting messages and payments across the EAEU as a supranational infrastructure. It would enable us to use blockchain’s distributed ledger technologies within the EAEU’s space, settle payments and transmit financial information sidestepping current payment systems.”

Bitcoin (BTC) seems unable to continue its steady recovery from last week’s slump. Though trading at roughly $7400 USD yesterday, the flagship cryptocurrency is down to about $6870 USD at press time. This is a 24-hour drop of around seven percent. All of the major cryptocurrencies have registered a similar sized drop in the last day with the total market cap sinking around $20 billion USD.

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations.  https://www.fliptopay.com/

Investorideas.com is a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure:  this newsletter is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip. More info: http://www.investorideas.com/About/News/Clientspecifics.asp

Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Contact Investorideas.com