Japan Gets First Bitcoin Online Payment System


Japan Gets First Bitcoin Online Payment System
Bitcoin users in Japan will now have access to the first Bitcoin online payment system in the name of Bitcheck. It was launched on September 16th, 2014 and is expected to provide a payment system wherein everyone would be able to trade in Bitcoin without any hassle. Therefore the company has adopted the slogan “Bitcoin for Everyone”.

According to the founders of the organization, their goal is to spread the greatness of Bitcoin in Japan, a country which many considered gave Satoshi Nakamoto, the father of the digital currency. Even the company’s CEO, Hiroki Minematsu, often appears in the Japanese media to educate the public on the use of Bitcoin in their daily lives.

Bitcoin is emerging as a popular choice for people who are doing international transactions and the latest step by the founders of Bitcheck is one attempt to cash in the golden opportunity. According to the company source, it has a variety of services that will make the use of Bitcoin much more convenient for the average shopper in Japan.

The company brings wallet services as well wherein a user can register when paying at a local restaurant, and the online payment system that has just been launched. Nonetheless, the company makes it clear that it hopes that given the popularity of online shopping in Japan, the uptake of their products and services will likewise be good going into the 2014 holiday season.

Low Commission Expected to Attract People

The best part according to the company is that it charges commission fees that are as little as 1%, which makes it one of the most preferred options for those who wish to send their money from one place to another. Also, as Japan is quite friendly to Bitcoin, this move is expected to encourage other companies to come up with Bitcoin solutions.

The companies involved in the Bitcoin economy claim that they get support from a statement issued by the premier of Japan in mid-2014. He had then did not force the authorities to ban the digital currency unlike the governments worldwide. Interestingly enough there had been calls to regulate Bitcoin since the collapse of Mt.Gox in February 2014.

However, it seems that Mt. Gox’s collapse which occasioned the loss of 850,000 Bitcoins valued at about half a billion dollars at the time does not seem to have the impact that are being expressed. Nonetheless, the loss led to more calls from the public for regulation; however, there are no special measures to control Bitcoin circulation taken after that.

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