Booming Entrepreneurship in Japan is Good News for Cryptocurrency
Japan is a country where many exciting things are happening behind the scenes. When it comes to technology, a significant mind shift is taking place. Entrepreneurship is becoming a new trend in the country, which is good news for cryptocurrency and Bitcoin. Additionally, there is more money flowing into startups originating from Japan as of late.
Putting Japan On The Global Startup Radar
It may seem rather strange to hear Japan has fewer entrepreneurs than most other countries in the world. Not too long ago, startups were rather uncommon, and attracting funds was a big issue. But things have been changing as of late, with more startups being created every month. More importantly, investments are flowing to Japanese entrepreneurs, with $1.2 billion making its way to the land of the rising sun in 2015.
Entrepreneurship is becoming a “cool” trend in Japan right now. While the country has been dealing with a corporate mentality for many generations, smart people have grown tired of playing it safe. Instead, they are now venturing into business for themselves, while seeking out like-minded people to create new companies.
To put this into perspective, the number of startups created on campus for Japan’s top universities has doubled. At the same time, these new enterprises are not rushing into creating an early IPO either. Instead, the majority of entrepreneurs prefer to remain independent, as they raise funds from investors.
All kinds of investors are looking toward Japanese companies right now. The success of this sector has not gone by unnoticed by any means. While there are no specific “unicorns” to speak of yet, there are plenty of opportunities for investors to fund future successful companies. Japan is positioning itself as a future hub of promising startups.
Do Not Discount Cryptocurrency In Japan Either
While there is a lot of focus on technology startups in Japan, cryptocurrency is seeing its fair share of success as well. The rise of entrepreneurship may have positive ‘tail-coat effects’ for cryptocurrencies. Companies such as Coincheck have opened up the trade of various cryptocurrencies against the Japanese Yen. This is good news for Bitcoin, as it is quickly starting to gain popularity in the country.
But Bitcoin is not the only cryptocurrency of great appeal to Japanese consumers and investors. Factom is currently being used to secure stock market data feeds. Moreover, Coincheck was the first crypto exchange in the country to enable factoid (FCT) trades, the cryptocurrency behind Factom’s blockchain. This seems to indicate the currency has a bright future ahead.