Building a Cryptocurrency Podcast in Japan
An interview with the creators of the “Discussions on Cryptocurrencies and ICOs” podcast on popular Japanese audio content platform, Voicy.
Podcasting has yet to go mainstream in Japan. One theory is that since most people communicate by train, they have their hands free to interact with their smartphones, and so tend to do something active during that time.
Nevertheless, there has been a small number of audio content creators who have built up a loyal following. As we move towards the introduction of devices such as smart speakers and voice assistants, podcasts are beginning to gain relevance in Japan. Another factor is the introduction of free services that make content creation easier and than ever before.
In this interview, I spoke to Seiya Kitazume and Nogacchi*, creators of the podcast, “Discussions on Cryptocurrencies and ICOs” (in Japanese), which is distributed via the Japanese audio content platform, Voicy.
* A nickname to avoid conflicts with his day job employer.
They recorded our interview and published it as an episode of their podcast (in Japanese). I then published a summary of our discussion in Japanese. The following is an English translation edited for readability.
Contents
- Introducing the Creators
- Former Housemates Started Podcasting
- Interest in Cryptocurrencies Sparked by ALIS
- Getting Started Podcasting
- The Appeal of Cryptocurrencies and Blockchain
- Decentralization and a World not Dominated by GAFA
- Millennial Lifestyles and Values in Japan Today
- Desire for Output Rather Than Desire for Recognition
- Creating and Publishing Content Regularly and Consistently
- Looking to the Future
Nogacchi is a junior staff member of a Japanese strategic consulting company. He is currently learning about cryptocurrencies and blockchain technology from Kitazume.
Former Housemates Started Podcasting
The two initially met in college in an NPO-like organization that traveled to Los Angeles for two months.
Later, they moved into a shared house with one other man. However, the third guy ended up moving out after getting married. It began to feel awkward living together as people were starting to wonder if they were a couple [they’re not], so when their lease came up for renewal, they moved out to live separately.
However, their friendship and conversations continued, eventually giving birth to their podcast, “Discussions on Cryptocurrencies and ICOs.”
Interest in Cryptocurrencies Sparked by ALIS
ALIS (website, Medium) is a forthcoming platform aiming to revolutionize the news and social media industries by connecting their users with trustworthy articles, news, and people quickly.
Headquartered in Tokyo’s Shibuya Ward, their goal is to set people free from advertisement-saturated conventional media, stealth marketing campaigns, and less-than-reliable information sources.
The ALIS platform incentivizes reliable information by rewarding authors trusted by its user community, as well as to reward the consumers of the content, who vote on the level of reliability and quality of news, articles, and blogs.
ALIS caught Kitazume’s attention and sparked his interest in cryptocurrencies around June of 2017. He wanted to start studying this topic, so he invited Nogacchi to join him.
Working with data analysis in his day job, Kitazume developed an interest in cryptocurrencies from a technical perspective rather than from the investment perspective.
Getting Started Podcasting
Kitazume had no experience in producing or publishing online media.
Nogacchi had somewhat related experience that he could build upon. While studying at university, he started a club and organized guest lectures by CEOs of venture businesses, and invited corporate personnel managers to give job briefings. However, after graduating and entering full-time employment, he was unable to continue such activities due to the long working hours.
Over the years, the two had found that putting out content via social media or blogging regularly was a struggle. They found that blogging to a high standard was particularly labor intensive and time consuming. And, even if they managed to find the time, producing a well-researched, well-written, and visually appealing article was quite hard.
However, when they found Voicy, they decided to give it a go because it was much easier and the content creation and publishing process was far less time consuming.
Voicy allows creators to distribute podcasts via its website, smartphone apps (iOS and Android) and smart speakers.
One nice feature is that show episodes are divided into ten-minute parts. This means that even when users are in situations where they are periodically interrupted or unable to look at their smartphones, such as changing trains during a rush-hour commute, they can still conveniently listen.
Also headquartered in Shibuya, Voicy is capturing the hearts and minds of Japanese millennials seeking fresh perspectives. The platform features podcasts by a growing number of influencers in various fields.
The two started using Voicy on December 1st, 2017. This was before influencers began to flock to the platform. Voicy has a screening system, where you first have to create an audio program and then receive permission from the administrators to create an account for distribution. Nowadays, only three out of every 200 applicants pass this screening.
The Appeal of Cryptocurrencies and Blockchain
The reason why Kitazume believes in the potential of ICO projects is that they are creating original solutions to problems that currently exist. Other than blockchain, Nogacchi is also interested in new technologies such as AI, IoT, and VR. However, among those, cryptocurrencies and blockchain receive the most attention from the general public, and this is partly why they have chosen to put out content focusing on this topic.
There are more and more people joining this field, and even with tokens of very low quality, users are able actually to buy in and participate. In that sense, the relevance it has to people may be significant. On the other hand, there are some barriers to entry. For Dapps (applications based on the blockchain, a gaming app in this example), users need to turn on their computer, install the MetaMask Chrome extension, and send Ethereum there. This is quite difficult for users who are not comfortable with cryptocurrencies.
Decentralization and a World not Dominated by GAFA
They pointed out that they think most of the people interested in cryptocurrencies and blockchain belong to the millennial generation. They find the concept of decentralization especially attractive.
One major reason for this is that as it currently stands, GAFA (Google, Apple, Facebook, and Amazon) are too dominant, and no company can compete with them. The data that they possess gives them an advantage so no one can win against them.
In contrast, Ethereum is not something that can be bought out, so this is a new type of system. However, there are concepts forming of digital currencies that would be issued by the government, so there are some aspects of it going back to the centralized ideology.
There is one more reason why younger people tend to be more interested. Nogacchi commented,
“I do not think most men over forty are interested in decentralization. This is because they are the ones currently in power within the centralized system.”
There seems to be some truth to this.
Millennial Lifestyles and Values in Japan Today
Nogacchi added,
“The concept of ‘dispersion’ may be spreading, represented by ideas such as the sharing economy and non-possession. One way to think of it is that blockchain and cryptocurrencies are a part of it.”
The two of them, who were initially living in a shared house, do not have much desire for material possessions and say they have no desire even to own a house.
Kitazume said he has lived in several shared houses because he did not want to own furniture or other material objects. He does, however, want to get back into acting and create films or video productions. Since video production is somewhat costly, he would like to have money for that. He values money for its power to enable creating value, rather than merely using it for consuming.
Related to the trend of turning from tangible consumption to intangible consumption, there may also be a change in their generation’s fundamental desire shifting from wanting recognition to seeking expression.
The old generation did nothing but work, so when they retire, they find themselves lost and unable to find purpose. However, this new generation has had to take a new approach from the beginning, making time for things other than work.
The reason they can study cryptocurrencies and produce content on Voicy is mostly that they make time for things other than work now.
In 2015, there was a high-profile incident of a young woman employee of Dentsu committing suicide due to stress from overworking. The two said that after this incident, their employers implemented reforms to avoid excessive overtime.
As a result of their overtime hours being reduced, the duo is able to work on their podcast, but they would have had no time to do so before. They used to work so much that they would not have had time for that at all. For the first half of their working life, they were not able to do anything besides work.
Even in a career, it is questionable whether one can acquire the skills to survive in the AI age just by working as a regular employee. If someone works overtime every day and cannot gain experience in anything other than their set role, it may be the end for them once they join the company.
It is not merely about not wanting to work. Changes are occurring in the way we work, what is required of us, as well as what we desire, so making time for things other than work may actually become a necessity. From their activities, we are able to get a glimpse of the complex factors such as the changes in values and the allowing of side jobs.
Desire for Output Rather Than Desire for Recognition
While their podcast has gained popularity, the two have yet to experience fame. To begin with, currently, only about one in ten people are Voicy users. Of those, only one in ten people are involved with cryptocurrencies. This works out to be only about one in 100 people.
This means that, if they go to a cryptocurrency event, it’s still unlikely that people would recognize them. They are also not yet making any income from the podcast.
Nevertheless, the two have decided to continue for at least a year. In the current state, their own learning is their primary purpose, but they also have a strong desire to become well versed even in the technical aspect, so that they can distribute highly reliable information.
Although they do not have specific plans for what comes after that, cryptocurrencies themselves have an uncertain future, so they are actually enjoying the process, seeing how things turn out.
Kitazume added,
“Perhaps within three years, I’ll have a job in the blockchain field.”
Creating and Publishing Content Regularly and Consistently
The due had some great tips for people considering creating a podcast and sustaining it.
- More than One Speaker: Even on other channels on Voicy, it seems to be common to have multiple speakers rather than doing it alone, especially among the younger generation. The creators over thirty, tend to take the form of a “radio” show, with a main host and guests who join them.
- Focus on Relationships: Creators under thirty seem to be more motivated by creating connections rather than seeking recognition.
- Keep it Simple: While they don’t have so much time to devote to their podcast, they do manage to create at least two episodes each week while continuing to work full-time. They do not always have to meet in person to record since they can record using Facebook calls.
- Keep it Casual: The two found that recording conversations in a carefree manner was also key. Furthermore, they said that the style of bringing together each person’s input to create an output also plays a significant role.
Looking to the Future
As you can tell by their early involvement with cryptocurrencies and emerging platforms such as Note.mu, ALIS, and Voicy, both men are early adopters of new technologies.
As of now, no one knows whether they will continue with this podcast long-term. However, regarding being involved with cryptocurrencies, what they said hinted that it is possible for anyone to get started and stay it if they wish to.
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