What is the basis for 2022 to be the first year of crypto assets? Experts talk about "true value"

What is the basis for 2022 to be the first year of crypto assets? Experts talk about "true value"

In 2021, a lot of news related to crypto assets such as NFT (Non-Fungible Token) and blockchain games was reported due to the volatility of Bitcoin. And 2022 is likely to prepare for further expansion.

What is the basis for 2022 to be the first year of crypto assets? Experts talk about "true value"

Talk to Genki Oda, Chairman of BitPoint Japan, a crypto asset exchange that became a hot topic with "BIG BOSS" Tsuyoshi Shinjo as an ambassador, and Kazumasa Sato, President of Jasmy, which publishes crypto assets "Jasmy Coin". heard.

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There is still great potential in the crypto asset market.

Genki Oda, Chairman and CEO of Cryptocurrency Exchange Bitpoint, predicts the future of the market in a confident tone based on the "history" of cryptocurrency assets, testimonies of overseas institutional investors, and recent changes in the world. do.

"We founded Bitpoint six years ago in March 2016. At that time, the price of Bitcoin was only 50,000 yen and Ethereum was only 500 yen. As of February 2022, Bitcoin The price has been around 5 million yen, and the market size of the entire crypto asset including Altcoin has grown to about 300 trillion yen. ”(Oda)

Oda experienced the ups and downs of the Japanese crypto asset market up close. The person who continued.

When Oda et al. Founded BitPoint in 2016, there were almost no rules surrounding crypto assets in countries around the world. The tide will change in 2017 the following year. In the form of amendment of the Fund Settlement Law, the world's first legal regulation on crypto assets has appeared in Japan. Since then, the world's interest has rapidly focused on the Japanese market.

"Before 2017, China accounted for 95% of Bitcoin's trading volume (volume), but with the clarification of the rules, the Japanese crypto asset market will move to a new phase. It was around that time that Japanese traded 50% of all Bitcoin, and the blockchain project that was rising in the world began to find special significance in listing on the Japanese market. "(Oda)

But "prosperity" did not last that long. It was triggered by the "illegal outflow of virtual currency" that occurred in January 2018. In Japanese society, the recognition of "cryptocurrency, that is, danger" spreads at once, and people's interest and recognition are rapidly lost.

"In 2017 or the beginning of 2018, just because it was a Japanese cryptocurrency exchange company, it attracted a lot of attention everywhere in the world, but in the latter half of 2018, it became completely uninteresting overseas. , The existence of cryptocurrency assets has gradually taken root in the world through the corona disaster. The center of trading volume that has transitioned to China and Japan is now shifting to the United States and Europe. "(Oda)

Japan's crypto asset market follows a trajectory like a jet coaster, but looking back on its transition, Oda sees signs of change, saying, "The flow has changed since the latter half of 2021."

"Although the laws and regulations of each country in the world have been improved in the last few years, there is a renewed recognition that the Japanese market has very strict rules and it is the most difficult to list in Japan. This means that it is a credible project, and as a result, more and more people are thinking that listing on the Japanese market is of great value. Last year, interest in NFT and blockchain games was also worldwide. The presence of the Japanese market, which has a lot of IP-related assets, is increasing day by day. "(Oda)

Genki Oda, Chairman of BITPoint Japan

2022 will be the first year for crypto assets

Kazumasa Sato, President and CEO of Jasmy, is also one of those who believe in the potential of crypto assets and do not doubt.

"Cryptocurrency assets are about to enter a period of full-scale diffusion after twists and turns. Personally, I think 2022 will be the first year of cryptocurrency assets." (Sato)

Jasmy is a block launched by Sony's former CEO, Kunitake Ando, ​​who is known as the "creator of VAIO," and Sato and others who have held important positions within the SONY group as marketers such as Sony Style.com's CEO. It is a venture company that handles chain-related technology. Utilizing distributed technologies such as blockchain and edge computing with the mission of "democratizing data" and a mechanism that allows anyone to use things easily, safely and securely in the era of the Fourth Industrial Revolution. We are working on the development and provision of our own IoT platform.

Currently, transcosmos has products and solutions such as "Personal Data Locker" and "Secure PC" that the company revolves around two core services, "Secure Knowledge Communicator" (SKC) and "Smart Guardian" (SG). It is being adopted in earnest at major companies such as Nippon Travel Agency, Daiwabo Information System, Toyota's automatic driving related company, WITH, and at large-scale events.

"In recent years, the arrival of the Web3 era against the background of distributed technologies such as blockchain has begun to become a reality. It is a form of next-generation distributed Internet, such as recording data and content information on the blockchain and tokenizing it. The word "Web3" will probably replace the word DX in the next few months as the most popular IT term. We have sought business from both software and hardware for the secure utilization of data and the democratization of data. At the same time, we have seen the need for new measures of value as individuals and businesses exchange data. Cryptocurrency assets can be the best measure of the value generated from each piece of data. I think it is an indispensable element for democratizing data. "(Sato)

In Japan, various restrictions have restricted the utilization of crypto assets by companies. But lately, more and more business people are beginning to realize the usefulness of crypto assets that can design their own value scales. That is one of the reasons why Sato predicts that "2022 will be the first year of crypto assets."

At the end of October 2021, the token JasmyCoin issued by the company was listed on BitPoint. Sato recalls the history of the listing, saying, "Even though the Japanese cryptocurrency market was pouring down, it was the bit point that we were connected with the enthusiasm to take on new challenges."

"I was pushed by the many exchange companies who said,'I think when the results come out.' Currently, the project is progressing steadily, but the encounter with BitPoint, including President Oda (at that time), was one of the turning points. (Sato)

In addition to JasmyCoin, BitPoint has a history of listing world-famous crypto assets such as TRON and Cardano for the first time in Japan. Currently, we handle a total of 12 types of crypto assets (as of February 17, 2022).

"The reality is that Japanese cryptocurrency exchanges basically take a policy of listing projects and tokens that have been completed to some extent. However, we always want to continue to take on new challenges. Incubate promising blockchain companies and projects. We believe that it is our mission to increase the value. We will continue to focus on discovering promising domestic projects such as Jasmy. ”(Oda)

Kazumasa Sato, President and CEO of Jasmy

Utility value and use of crypto assets that spread almost limitless

Currently, crypto assets are mainly recognized as investment and speculative targets, but Oda predicts that their images and uses will change in a wider variety of ways in the future.

"I personally think that it is very important where and in what scene cryptocurrencies are used, and what kind of sociality and value they have. Currently, as a member of the World Economic Forum, I am studying various things. I have been participating in the meeting, but in the last 1-2 years, there have been discussions about how to introduce and utilize crypto assets in the world economy. I am looking for ways to utilize them in the SDGs field as well. It's starting to be done. It shouldn't be long before people's interest shifts not only to price but also to value. "(Oda)

Oda recalls that the episode of having a conversation with the investment manager of Goldman Sachs in 2019 is still in my head.

It is mainly individual investors who invest in crypto assets in Japan. However, overseas, "institutional investors already account for about 60% of all crypto assets," said the person in charge. On the flip side, the potential of Japanese crypto assets is still great, assuming the full-scale entry of companies and institutional investors.

"Currently, there are about 4.5 million Japanese crypto assets accounts. 4-5% of Japanese have cryptocurrencies. And 15% are interested in crypto assets but do not have them, 80%. I'm not interested at all. However, if the number of projects like Jasmy increases, the situation in Japan will change drastically. And if not only individuals but also companies own crypto assets, it will be a different landscape. As Bitpoint, we want to realize a world where the value of such crypto assets increases. ”(Oda)

“ Cryptocurrencies are not only used as replacement means for remittances and payments, but also for all organizations and companies. It can be a means for individuals to exchange value. Its value and uses are almost endless, such as new usage such as using it only in the world of metaverses and games, or within their own community. And the world is beginning to notice. At that time, the spread should explode. By that time, we would like to make steady preparations. ”(Sato)

Toward an era in which individuals, companies, and all communities own cryptocurrency assets. Japan's crypto asset market, which has undergone a transition like a roller coaster, is now at the beginning of a new phase.

Genki Oda ◎ Chairman of the Board, BitPoint Japan. He started his business while attending the University of Tokyo, then sold his business and invested in many venture companies as a venture capitalist with McKinsey graduates. He also deals with negotiations with overseas institutional investors and bond investment, and is active as a financial and investment specialist. Selected as Young Global Leaders by the 2019 World Economic Forum.

Kazumasa Sato ◎ Sony Style.com President, Sony Marketing Executive Officer and Sony Style Company President, Sony Style Japan President and CEO, Sony Marketing Executive Officer, Sony Creative Center Director, BJIT President and CEO In April 2016, he became a director of Jasmy, and in November 2018, he became the president of the company.

[Risk explanation regarding crypto asset transactions]

There are various risks such as price fluctuations, liquidity, systems, and credit risks in crypto asset transactions, so please fully understand the characteristics, mechanism, and risks of transactions. So, please make a transaction at your own risk and judgment. For details, please see the terms and conditions provided by BITPoint Japan.

Precautions Regarding Crypto Assets

-The crypto assets handled by BitPoint Japan are merely confirmed by BitPoint Japan itself to meet the definition under the Fund Settlement Law.

・ The Financial Services Agency / Finance Bureau does not guarantee or recommend the value of these cryptocurrency assets.

・ Cryptocurrency exchange companies need to register with the Financial Services Agency / Finance Bureau. When using it, please check with the registered business operator or the website of the Financial Services Agency / Finance Bureau.

Cryptocurrency exchange company registration list

・ Cryptocurrency assets do not necessarily have supporting assets.

・ Please note the following points when trading crypto assets.

<< General precautions when using cryptographic assets >>

・ Cryptocurrencies are not "legal tender" whose value is guaranteed by the government, such as the Japanese yen and the dollar. Electronic data exchanged on the Internet.

・ Prices of crypto assets may fluctuate. Cryptocurrency prices can plummet or suddenly become worthless, which can be costly.

-The value of cryptographic assets may be lost due to the failure of the transfer recording system.

-If you lose your private key or password, you will not be able to use your crypto assets and their value may be lost.

・ If BitPoint Japan goes bankrupt, it may not be possible to return the deposited money and cryptocurrency assets.

・ Cryptocurrency assets can be used for payment of consideration only with the consent of the person who receives payment of consideration.

-There is a price difference (spread) between the selling price and the buying price offered by BITPoint Japan, and the difference is the transaction cost of the customer.

・ When trading cryptocurrency assets, please receive an explanation from the business operator, understand the transaction details well, and make your own judgment.

・ The number of consultations regarding cryptocurrency assets and fraudulent coins is increasing. Please be careful about fraud and malicious business methods that use cryptocurrency assets or piggyback on the introduction of cryptocurrency exchange business.

Please see here for details.

For other important matters, transaction details, fees, etc. , please refer to the " Transaction Terms " and " Explanation for Cryptocurrency In-kind Transactions ". Click here

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