Rakuten CEO Does Not Rule Out Bitcoin Acceptance in the Future

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Rakuten CEO Does Not Rule Out Bitcoin Acceptance in the Future
Rakuten CEO Does Not Rule Out Bitcoin Acceptance in the Future

Rakuten CEO Does Not Rule Out Bitcoin Acceptance in the Future

Rakuten, Inc., a Japanese electronic commerce and Internet company based in Tokyo, Japan, is mulling a plan to accept Bitcoin for its products. The decision by the B2B2C e-commerce platform Rakuten Ichiba, the largest e-commerce site in Japan and among the world’s largest by sales, can be decisive for the digital currency as well as the company.

The indication that the company may consider Bitcoin came in when its CEO gave a speech in Fukuoka City on the 14th July. The CEO of Rakuten, Hiroshi Mikitani said that the internet revolution is accelerating this year and he imagines that, sooner or later, Rakuten will start accepting money in the form of Bitcoin.

The report published the Japanese newspaper when translated reads that the speech was directed at merchants who operate on the internet-based virtual “Rakuten Marketplace.” Mikitani believes that all forms of transacting will come into play, not just watching, reading, and buying. What functions existing things perform will be redefined and new services will emerge rapidly.

The Japanese language newspaper writes that CEO Mikitani gave several reasons behind the accepting the digital currency. For instance, indicating his reason for forecasting the implementation of Bitcoin that it’s increasingly the case that countries with unstable economies are able to achieve greater security with Bitcoin versus their own currencies.

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Could Be a Significant Decision for Bitcoin

People familiar with Japan say it’s going to be big if Rakuten starts accepting the digital currency it will be big move for it by the CEO who is known for taking bold decision. When he said sooner or later Rakuten will allow its customers to pay for goods with digital currency, the inference is that it’s a matter of time the next announcement comes from the company.

Rakuten is not just one of the largest ecommerce companies but also has more than 40 different businesses and 10,000 employees. A company with such large scale embracing the digital currency will be a major booster. They not just own their own bank but recently purchased Play.com and Buy.com in deals worth hundreds of millions.

After the decisions by Overstock and Newegg, the other two big ecommerce companies, the addition of Rakuten can be big one. However, it is still not clear, when the next announcement is going to come from the ecommerce giant regarding the final decision to accept the digital currency.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com