• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Samson Mow: Bank of Japan's Bitcoin Adoption Inevitable, Yet Problems Persist

user avatar

by Giorgi Kostiuk

3 months ago


Former Blockstream executive Samson Mow has commented on the potential adoption of Bitcoin by the Bank of Japan, suggesting it's inevitable due to the yen's weakness. However, the current situation in Japan might not make this measure effective in solving economic problems.

Samson Mow's Commentary

Samson Mow, now the CEO of JAN3, a company specializing in nation-state relations, expressed his view that Japan should embrace Bitcoin for economic recovery. In his post on X, he highlighted the yen's weakening and the unpredictability of the Bank of Japan's interventions.

Japan's Financial Situation

Amidst record corporate bankruptcies and pensioners struggling with basic necessities, Japan faces economic hardships. Recent data suggests corporate bankruptcies may exceed 10,000 cases in 2024, while retail profits continue to decline. This is compounded by rising inflation and the yen's weakening to near-historic lows.

Japan's Political Landscape

Japan's Prime Minister Shigeru Ishiba remains skeptical about cryptocurrencies, refusing to lower the crypto tax, favoring increased defense spending. Bitcoin is largely inaccessible to most people due to long transaction times and high fees. Many residents turn to alternative cryptocurrency options like BCH for everyday needs.

While Samson Mow believes that Bitcoin adoption by the Bank of Japan is only a matter of time, critics point out that cryptocurrency will not solve the country’s fundamental economic and structural issues. Japanese society is already exploring alternative, decentralized solutions for financial stability and autonomy outside centralized systems.

0

Share

Other news

Stock Market Struggles and Their Impact on Ethereum Prices

Analyzing potential impacts of the stock market's weakness on Ethereum prices and key support levels.

user avatarGiorgi Kostiuk

4 minutes ago

RLUSD Empowers Ripple Payments, Expanding Global Reach

RLUSD integration into Ripple Payments accelerates cross-border transactions and strengthens market position.

user avatarGiorgi Kostiuk

4 minutes ago

How Russia Plans to Use Confiscated Bitcoins for State Revenue

The FSSP of Russia is developing a mechanism to convert confiscated bitcoins into state revenue, announced by Dmitry Aristov.

user avatarGiorgi Kostiuk

5 minutes ago

COTI: Fast and Secure Transaction Platform

COTI provides an efficient fintech platform focusing on transaction speed and security.

user avatarGiorgi Kostiuk

6 minutes ago

BYDFi 5th Anniversary: Innovation and Web3 in Focus

BYDFi celebrates its 5th anniversary: history of growth and Web3 adoption.

user avatarGiorgi Kostiuk

15 minutes ago

Ethereum Price May Drop Due to Weak Stock Market

Analyst Benjamin Cowen predicts Ethereum's price may decline owing to stock market weakness and macroeconomic factors.

user avatarGiorgi Kostiuk

16 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.