A friend who came back from Japan chatted with me about the situation in the Japanese currency circle

Recently, a senior friend in the currency circle who stayed in Japan for a period of time came back and shared the development status of Japan's digital currency, revealing that the development of digital currency between China and Japan is very different in terms of investment and application.

Although there are differences in the economic and cultural backgrounds of China and Japan, the current status of the development of digital currency in Japan has great reference significance for the future development of our country, especially in terms of investment trends.

Today I will share with you some of the current status of digital currency development in Japan.

Before discussing the development status of Japan's digital currency, there is an important historical background to explain to everyone: that is, after Japan's bubble economy burst in the 1990s, the entire society was greatly impacted and affected. This kind of impact and impact directly reflects the public's perception of investment, which is a kind of vigilance or even rejection of high return instinct.

This is not to say that there is no speculative wave in Japan, but that when the speculative wave occurs, the proportion of people who are deceived and seduced will never be as high as in China.

When ICOs were booming in 2016 and 2017, this hype also swept across Japan, and many Japanese investors also suffered losses in this upsurge, which made the whole society very calm about high returns. Therefore, in Japan now, when people talk about digital currency investment, they will be very cautious about projects with an annualized return of more than 100%. Unless their models and business scenarios can really make sense, no one will easily believe it.

Because most Japanese are influenced by the traditional thinking of being content with their duties, they do not have a strong counterattack mentality and fighting spirit like the young people in our country. Therefore, even if they are enthusiastic about digital currency, they are not like many young people in our country. It is so enthusiastic and even fanatical to regard digital currency as an opportunity to counterattack and achieve a class leap.

Another interesting phenomenon is that the mainstream people who invest in and participate in digital currency in Japan are actually born in the 60s and 70s, not in the 80s and 90s. On the one hand, this is because the post-60s and post-70s in Japan can accept new things. On the other hand, it is more important that the post-60s and post-70s have sufficient economic strength to participate in digital currency investment. Although Japan's post-80s and post-90s are also keen on digital currency activities, their participation is quite limited due to insufficient economic strength. Compared with those born in the 80s and 90s, those born in the 60s and 70s will be more mature and rational in terms of cognition.

The Japanese circle is relatively fixed, and there is a strong relationship of trust among members in the circle. Therefore, everyone in the circle cares about their own reputation. Once their reputation is destroyed, it will be difficult to act in this circle in the future.

Therefore, it is very difficult for a new project to be popular and promoted in Japan without local teamwork and operation. When promoting a new project, the local team will also carefully examine the value of the project and analyze its business logic.

Under the combined effect of the above factors,Those who have investment strength and actively participate in digital currency investment in Japan are very rational in their investment in digital currency. Projects such as pyramid schemes and air coins are difficult to become popular among investment groups in Japan. And once a project can really become popular in Japan, basically the credibility of the project itself will be very high.

Another interesting phenomenon is that,There are only two digital currencies recognized by most digital currency investors in Japan, namely Bitcoin and Ethereum. Even EOS is not recognized by many people, and USDT, which is commonly used by Chinese investors, is hardly seen in Japan. Even if Japanese investors want to trade other digital currencies, most of them use Bitcoin and Ethereum for transactions, and rarely use other digital currencies.

One thing I didn’t expect from my friend’s sharing is that Binance’s recognition in Japan is very good, and Binance’s platform currency BNB is very well accepted in Japan. Although Binance was "expelled" by the Japanese government, it seems that this did not affect Binance's image in the minds of Japanese investors.

Overall, the Japanese are much more rational in terms of digital currency investment, almost instinctively rejecting air coins and MLM coins, and the consensus on digital currencies is highly concentrated on Bitcoin and Ethereum.

I hope that digital currency investors in our country can also reflect on our irrationality and impetuousness in digital currency investment from the current situation in Japan, so that our country's digital currency investment will be less flashy and more rational.