Exciting dialogue session on blockchain technology in Tokyo

Mr Cui Jiping, Chairman of World Help Disability Welfare Foundation, was invited to have a dialogue session with the best talents in blockchain technologies in Japan. The session facilitated deep discussions on the proper and legal development and management of blockchain technology.

To gain better insights on the blockchain industry in japan, Mr Cui visited the Tokyo Stock Exchange Centre to learn about the history and development of the exchange market in Japan. Shortly after the visit, the team moved on to the industry leading organisations such as Fintech association, the Financial Services Agency, Boardbandtower,Inc. Dialogue sessions with the best industrial experts of Japan were also conducted, with whom the future development of blockchain technology were discussed.

The team was led by Professor Yang Dong, director of the Research Center for Financial Technology and Internet Security of Renmin University of China, and Professor Fujita Tsutomu who hails from the Finance Forum of the Graduate School of Hitotsubashi University. We would like to extend the sincerest of gratitude to our distinguished guests for making this trip possible.

Professor Fujita Tsutomu giving his opening speech

At the Tokyo Stock Exchange Centre, Mr Cui wasted no time in getting up to speed with the history of Japan’s stock exchange market. Here, at the ground floor of the centre, even the pre-war documents of the Japanese Stock Market were put up as an exhibit to greet visitors to the centre. Isn’t it just amazing to see how far have we come in the evolution of stock exchange!

This is how stocks could be exchanged before the digital era - on paper

After a short lunch break, Mr Cui shared a meaningful discussion with the members of Fintech and Nomura Securities Co., Ltd. Topics of the discussion included the current perspectives on blockchain industry in Japan and the management of the blockchain market in Japan. Such a discussion facilitated a deeper understanding of the application as well as the government’s stance on blockchain technology in Japan’s financial sector.

We were fortunate to take pointers from Mr Shirabe Ogino, the director of Fintech Association who went on to give a presentation on cryptocurrency and ICO, with particular focus on the practical application of blockchain technology in Japan. After his informative presentation, there was further input from a researcher from Nomura Securities that detailed about how the traditional financial institutions in Japan have put heavy emphasis on security and the kind of challenges being faced when implementing new technology.

Professor Yang also touched on the topic of “public shareholding versus individual shareholding” by citing a relevant example that is representative of the Chinese financial technologies. In his speech, he highlighted that the big data blockchain age is going to revolutionise the whole industry.

Moving on from the introductory segments, the agenda was then shifted towards the Financial Services Agency office. An insightful speech was made by the deputy secretary of the agency who brought us through the current policies on cryptocurrency in Japan. It is through these fruitful exchanges that allowed the team to develop a better understanding of what the Japanese government had considered when rolling out new policies and regulations on financial technologies.

Our next destination which was the much famed Broadband Tower, Inc. Allegations of the looming fourth industrial revolution as well as the digitisation of the industrial sector was shared by the director of Broadband Tower. He shared his sentiments on all four industrial revolutions as well as the positive impact it had on the Japanese economy. A take home message from his speech is to fully harness the opportunities that the fourth industrial revolution would bring.

In the next few days of the visit, Mr Cui is expecting to exchange more pointers with other influential figures in the blockchain industry, while a visit to the famous Hitotsubashi University is also on the cards.

World Help Disability Welfare Foundation
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