Many countries have shied away from cryptocurrencies and even clamped down on trading and using them. These tend to be the more authoritarian nations such as Russia, China, and Indonesia. Japan, conversely, is embracing the blockchain revolution with open arms and even has a group known as the Virtual Currency Girls who are attempting to bring more awareness to the masses.
Bitcoin is considered legal tender in Japan, the world’s third largest economy. According to JPBitcoin.com, almost a third of all BTC transactions during December were denominated in Yen. In complete contrast to China and South Korea that want more regulation Japan passed a law in April last year legalizing and legitimizing digital currencies and underscoring the need for transparency and financial stability.
According to India’s Economic Times, Japanese social media icon Mai Fujimoto, aka ‘Miss Bitcoin’, says she invests all of her savings in the digital currency. In a recent interview she told AFP:
I convert all my disposable income into cryptocurrency, I’ve been doing this for nearly a year now. I convert all my savings into cryptocurrency instead of putting them in a bank.
Miss Bitcoin has done very well out of her investments starting out in 2012 when she got her first BTC for 1,200 Yen (about $10);
At the time, I was working with children and creating an online donation platform. And for the first time, I learned how expensive it is to send money abroad. So, I was really impressed when I heard that I don’t have to go through banks if I use bitcoin payment.
CRYPTO GIRL POWER
Japanese culture can be quirky, to say the least. An all-girl idol group called the Virtual Currency Girls (Kaso Tsuka Shoju) have also made it big in crypto and strives to extoll its virtues across the country. The group, managed by Cinderella Academy Inc, intends to capitalize on the current wave of crypto mania by offering all tickets to their live performances and fan goods exclusively through digital currencies.
The eight-member team, ranging in age from 15 to 22, each has her own crypto coin persona and, in true Japanese fashion, uses cosplay to promote them. Characters such as Neo, Nem, Ethereum and even Cardano have their own merchandise and are wildly popular with Japanese youth.
Japan always finds its own idiosyncratic way of doing things and promoting crypto through girl groups seems to be the latest craze.