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FSA and JVCEA, WorldFirst and Ant Financial, Proof-of-Work and Buterin

12/29/2018
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  • blockchain_ Asia
News list

The list of applications for the opening of cryptoexchanges in Japan has grown to a record level, the Chinese company WorldFirst wants to open a business in Europe. Buterin does not believe in Proof-of-Work.

In Japan, 190 companies are planning to become operators of cryptoexchanges

The efforts of the Japanese government to promote cryptocurrency are paying off. Despite the depreciation of the asset, interest in the blockchain industry continues to increase. According to news from the FSA, more than 190 financial organizations are hoping to get a license from the cryptocurrency exchange operator. The last report stated that only 160 legal entities were going to carry out activities in this direction.

Now the FSA has issued permission only to 16 companies that are united in the JVCEA association. Three more organizations have a temporary license. The regulator assigned the function of control over operational activities to the self-regulatory organization, which allows you to quickly respond to the slightest changes in the industry. This is partly due to the growing interest in this area.

In Japan, 190 companies are planning to become operators of cryptoexchanges

Expansion of Chinese Ant Financial to the European market

Plans for Ant Financial, one of the divisions of Alibaba, to redeem the WorldFirst application have been announced. Experts estimate the initial contract amount at $ 700 million. In total, the company that owns the WorldFirst application has 600 employees. At the same time, the volume of transfers has already reached $ 67 billion.

Initially, the company was created in order to establish a transfer system without using banking services, using the blockchain technology. For a giant like Ant Financial, the amount of $ 700 million does not seem too high. Now about 450 million people use its services, and the market capitalization is $ 150 billion. What is important is the fact that Ant Financial had previously operated exclusively in the Asian region.

Expansion of Chinese Ant Financial to the European market

Buterin does not believe in Proof-of-Work

Vitalik Buterin's statement about the lack of confidence in the Proof-of-Work technology caused a whole wave of discontent. The phrase was voiced in a dispute with Giacomo Zucco, who spoke about the disbelief of various categories of cryptocurrency supporters. It is difficult to say how seriously Buterin took this statement, and whether it was just a joke. However, a serious discussion has flared up on Twitter.

The reason is that in the Proof-of-Work technology, proof of work underlies the blockchain. While this technology is quite imperfect in terms of energy consumption, however, it has proven its reliability and safety for the end user.

Buterin does not believe in Proof-of-Work

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