Bank of Japan Dep Governor Talks Bitcoin, Fintech, Mt. Gox and Blockchain

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The Deputy Governor of the Bank of Japan, Hiroshi Nakaso, has revealed that there is no plan to issue digital currencies as a substitute for banknotes at the present time. Still, the official added the bank would “make utmost efforts” to understand and research blockchain technology, an innovation “born” with bitcoin in 2008, as stated by Nakaso.

The Deputy Governor was speaking [PDF] at the University of Tokyo – Bank of Japan Joint Conference in Tokyo late last week. He opined that blockchain or distributed ledger technology (DLT) presents significant potential to affect “money” and “ledgers”, the basic pillars for financial activities.

Financial Inclusion in Developing Countries via FinTech

Fintech models simulate positive feedback between finance and the economy, Nakaso stated, due to financial inclusion bought on by FinTech innovation.

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FinTech solutions like bitcoin could bring significant respite to the unbanked in developing nations.

He stated:

If people in developing countries

Read more ... source: TheBitcoinNews

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