There are a lot of crypto projects in Japan due to the country’s openness towards blockchain (particularly cryptocurrency) and other DLT technologies. Japan’s crypto-friendly regulations have helped attract crypto investors, entrepreneurs and innovators worldwide into the country. As a result of the country’s openness towards crypto, Japan is becoming a crypto hotspot for the whole of Asia.
Source @ cryptotimes.io
Furthermore, the country’s web3 industry is growing rapidly. According to Yano Research Institute survey on blockchain technology, Japan’s crypto market will likely hit 123.5 billion yen in FY2022. For instance, the total amount of funds raised by web3 companies worldwide has reached a new record high. Fortunately, Japan’s blockchain startups dominate with a fair market share.
Without further ado, here’s a brief overview of some of the top crypto projects in Japan. Our selection is based on criteria like the project’s potential, popularity, and usability, among other things.
The first crypto project in Japan on our list is Crastonic, and the blockchain startup is based in Tokyo. The company specializes in web3.0 service, building DAO management, decentralized application development and technology consulting.
The second on our list is Monacoin, and the web3 project is a digital currency designed to enable Peer to Peer digital transactions. The Monacoin team describe the projects as the first Japanese cryptocurrency. The idea behind the project is for Japanese to see Monacoin as their national alternative to Bitcoin.
Initially, Monacoin was Litecoin’s hard fork. Over time, Monacoin managed to scrutinize and eliminate features perceived as weak points of Litecoin. Hence, Monacoin is a decentralized payment system preserved or governed by anyone who is a part of its network.
QASH is next on our list. QASH is a native token of QUOINE (a fintech company aiming to provide a blockchain-powered exchange, trading, and next-generation financial services). QASH seeks to solve the liquidity problems plaguing the crypto market.
Hence, QASH provides liquidity to the crypto space by providing a platform where users can easily trade crypto to fiat. Qash platform works majorly on two pillars, which are World Book and Prime Brokerage – these two pillars help Qash offer the biggest possible liquidity to users.
ALIS is an incredibly crypto project that introduces an entirely new social media concept which provides access to reliable news, articles, and people. The ALIS project is developed on three main features that conventional social media lacks:
- Reliable data with blockchain technology
- Easy access and quick to High-quality articles
- The users determine the value of the platform.
Furthermore, ALIS aims to eradicate fake news from the media through blockchain technology, and its main focus is catering to the Japanese community. The STEEM platform inspired the project.
NEM (New Economy Movement) is another crypto project in Japan. The platform is an open source Peer to Peer network allowing diverse ledgers to co-exist on a single blockchain. The platform’s main feature is the introduction of a new unique consensus algorithm (Proof of Importance). The POI consensus mechanism emphasizes the importance of considering a node’s activeness, token balance and contribution as criteria for selecting a node as a validator in a blockchain system.
According to the project developers, NEM is the world’s first “smart asset” blockchain. Although it started as a hard fork NXT blockchain (an open-source cryptocurrency and payment network), the NEM team decided to rebuild the system from scratch. Hence, NEM seeks to become a technology platform offering an efficient and more scalable way to manage data and assets at a meager cost easily.
About Dopamine App
Dopamine is a crypto app that gives users quick access to over 1000 cryptocurrency data worldwide, from crypto charts to crypto news. It has a highly secure non-custodial wallet with an easy-to-use interface. Furthermore, the App allows users to trade, swap, stake, buy and conduct other crypto-related activities. You can download the dopamine crypto App on Play Store and App Store.