
Japanese Banks Are Planning to Launch J-Coin, a Crypto Currency to Kill Off Cash - jameslk
https://www.technologyreview.com/the-download/608963/japanese-banks-are-planning-to-launch-j-coin-a-digital-currency-meant-to-kill/
======
byoung2
Why does it need to be blockchain? It sounds like what Japan needs is credit
and debit card infrastructure powered by regular banks.

~~~
wakeywakeywakey
The "need" for blockchain is likely better assessed by their engineers, who
presumably have access to more information about their requirements than you
do. Alternately, why not blockchain?

~~~
byoung2
Whether it is blockchain or not, they will need infrastructure to process
electronic payments. The last time I went to Japan I noticed a real lack of
payment infrastructure that is common in the US (this may have changed in the
past few years). In the US we have vending machines, subway ticket kiosks,
parking meters all with credit card slots. Also, nearly every business accepts
credit cards, from restaurants, hotels, and stores to farmers markets. When I
stayed at a hotel in Japan I had to pay upfront in cash, pay for nearly every
meal in cash, carry coins for vending machines, taxis and subways. At the time
these were all things I would have used a card for in the US. At the very
least they will have to get this infrastructure in place first before moving
away from cash.

