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Connect with Japanese Community

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Your Reliable Guide to the Japanese Community

When you are in the foreign country it’s always better to have someone local guide you through the ecosystem.

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Why is the Japanese Market Attractive?

  • Large number of crypto investors

  • Large trading volume in Japanese exchanges

  • Growing number of blockchain startups

If you need help with...

Meeting local developer communities
Entering the Japanese market
(eg. events, hackathon, reaching out to Japanese media etc… )
Finding a good ramen place

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Overview of Japan Market 2018

Exchange and Markets

Key points and notable facts:

Japan has a very exchange-heavy ecosystem and the most successful cryptocurrency-related companies in Japan are exchanges.

In 2017, Japan was a leading force for cryptocurrency trading and speculation in the world after its becoming the first nation to officially regulate cryptocurrencies.

Since then, due to two major hacking incidents at Coincheck and Zaif as well as bitFlyer’s suspension of new registrations, regulatory requirements have become much stricter and costly, severely deteriorating the trading environment and sentiment as a result.

ICOs in Japan have also been effectively banned or suspended for the time being.

Cryptocurrencies or tokens that are allowed to be traded and sold to the public in Japan are limited (so-called whitelist systems) and the list of those coins is maintained and updated by the industry association appointed by the FSA.

Notable coins excluded by the list are privacy coins such as Zcash, Monero, and Dash.

The treatment of non-fungible tokens and other newer concepts has yet to be clearly defined.

Protocols and Applications

Key points and notable facts:

Although the number and relevance of non-exchange blockchain startups and projects has been lower than exchanges, many companies and projects have been started in Japan, particularly in 2018.

Right now, one of the most popular fields is wallet development and the next upcoming category seems to be crypto gaming utilizing non-fungible tokens.

Japanese crypto companies have not typically focused on blockchain infrastructure and protocol development, but Nayuta is one of a few actively involved in protocol development of Lightning Network on Bitcoin.

Other such companies include Layer X, Chaintope, and Cryptoeconomics Lab, which are active in protocol development and research on Bitcoin, Ethereum, and other newer blockchains.

Crypto Communities

Key points and notable facts:

Bitcoin, Ethereum, NEM, Monacoin, and Bitcoin Cash have strong user and developer communities in Japan.

In terms of Bitcoin, Lightning Network has been getting increasing attention in developer and user ecosystems.

Ethereum has the most active and largest developer community in Japan but transition to newer blockchains such as EOS and Cosmos is an emerging trend.

NEM has been popular due mainly to its close relationship with Tech Bureau, who were supporting the core development as well as building their own proprietary private blockchain system using NEM’s codebase.

Monacoin is in essence a “Japanese Dogecoin” but maintains a strong supporting community since 2014 and protocol development as well as third-party application development is still active, making it a rather unique local cryptocurrency.

Ripple has strong community support but are few services or third-party companies are actively involved are thus excluded from this list.

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Past Events

Interested in learning more about the Japanese crypto ecosystem or
looking to connect with Japanese community?

Feel free to contact us HashHub.