Ripple is currently al Silicon Valley platform in Japan (SVJP) works to reduce the gap between the Valley and Japan.
EMI Yoshikawa, Ripper's Global Ops & Partnership discussed how Ripple and the Japan Bank Consirtium are disrupting the payment industry in the country.
At the Silicon Valley Japan platform (SVJP), an initiative to bridge the gap between the Valley and Japan, @emy_wng discussed how Ripple, along with the Japan Bank Consortium, is destroying the payments industry in Japan #blockchain. pic.twitter.com/RiwPzE4emO
– Ripple (@Ripple) 10 January 2019
The Silicon Valley Japan platform is an initiative promoted by the United States-Japan Council (USJC) and Japan Asia Pacific Initiative (API). The SVJP was created in 2014 with the intent to seek overseas niche markets, new business partners and cutting-edge technologies.
Ripple has sought to expand its payment network that can be used by finance companies and banking institutions. This would help them to have a cheaper way to process transactions and reduce time.
At the moment, and as recently unveiled by Ripple, there are more than 200 companies working with RippleNet. In addition, dozens of companies have started using the xRapid solution, while some are now using XRP to process faster payments and reduce costs.
According to the Japanese Lawmaker, Takeshi Fujimaki, who is a former banker who works as a politician, Japan is lagging behind in terms of developing digital resources.
Japan has implemented strict regulations on digital currencies and companies operating in space. During the last year, various problems and hacks in the country related to digital currencies have occurred. However, the country is trying to regulate space to avoid these problems in the future.
There are other countries around the world that are also starting to implement regulations on digital resources and the encrypted market. In recent years, with the expansion of cryptocurrencies, various scams and fraudulent activities have damaged investors who were investing their funds in various projects.