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Shinnosuke Murata, founder of blockchain games developer Murasaki. He says a marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of leaving Japan behind even after the nonfungible token (NFT) and crypto “boom” of 2021, which prompted officials in the United States and Europe to backtrack on their initial antipathy for the space.
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Japan’s regulators are right. This is a just a another of way of separating the public from its (real) money. Cryptocurrencies, IoT, 5G, “the Metaverse” (LOL) and others are turning out to be either a big disappointment or just a lot of hot air.
The widespread My Number skepticism and failures aren’t helping win over folks to digitalization, either.
But Japan is also one of the biggest investors in NFTs even after the clear public refusal to buy into the obvious scam that they are. We still get daily reports of companies saying they are dropping millions on NFT divisions despite everyone else abandoning them as fast as possible.
the whole boom last year was insular with NFT bros hyping other NFT bros hence why they are worthless now. But we still got companies touting it not noticing they were left holding the bag
Cryptocurrency is the domain of an incredibly narrow demographic of people who would wish to make the mechanisms of exchange even more convoluted than it already is and who seem content on ending the concept of ownership in favor of perpetual rent-seeking.
a global leader in gaming.
Is that really something to aspire to be, or to be proud of?
I’m inclined to agree with JeffLee’s first paragraph above.
replace the phrase with gambling and it’s okay to not be a world leader
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