Explaining JPAY to a middle school student: What a simple platform!
I’ve already written quite a number of articles so far and many readers have personally contacted me to find out what the cryptocurrency is. Most people seemed to be in difficulty in understanding the blockchain world fully. They are all precious to me. Every single inquiry means a lot to me. However, I was particularly impressed by a middle school student’s passion to discover this mysterious world of blockchain. He wanted to know more about JPAY platform. Whether it can actually be used in the real world, and whether a person of his age could also become a part of the JPAY platform were the kinds of questions that hovered his mind. So, today’s article is about answering his questions.
I plan to write down Suzuki’s question and answer it one by one.
Q. Can you explain what cryptocurrency is briefly?

A. It will be much easier for you to understand if you take cryptocurrency as a virtual currency that has no physical reality. It is stored in only computers and traded online. Do you play online shooting games? where you are given some kind of game money to buy your weapons to strengthen your power? That is it. The virtual currency without physical reality. But the biggest difference would be that JPAY and JPAY Silver can be used in real life. One of the most important characteristics of cryptocurrency is that unlike real currencies issued by the Central Bank and government, such as Japanese Yen, there is no central power. It’s also called decentralization in a more formal language.
Q. Where is the most active cryptocurrency industry?

A. The cryptocurrency industry is most active in Crypto Valley, Switzerland. In fact, Japan, where you are living in right now is also one of the leading countries in this industry. I am not sure whether you heard about the Rakuten’s news, the Japanese e-commerce giant who recently decided to take over a cryptocurrency exchange. Likewise, several countries are taking blockchain seriously and started to invest in it. In Korea, the neighboring country to Japan, there is a lot of transactions going on centered on JPAY right now!
Q. Now I know what cryptocurrency is. But what is JPAY?
A. Well. JPAY is a cryptocurrency that is said to be “friendly, easy-to-adapt, and available in real life”. JPAY enables you to earn and spend a blockchain cryptocurrency within its ecosystem. With the JPAY mobile application, you can perform a familiar economic task, such as buying milk from a store near your house.
Q. What is its characteristic then?
A. Two-layered system is the most important feature. First, what makes cryptocurrency less attractive to those skeptics is the volatility of its value. In other words, the price of cryptocurrency fluctuates too quickly. Suppose you went out to buy a milk which cost 100 yen yesterday. But today, it cost 500 yen. You will be gutted right? Nobody will feel secure in using it. JPAY platform resolves this problem with its two-layered coin system, combining both fixed price currency and volatile price currency.
Q. Can you really use JPAY in real life?

A. Of course, Suzuki! JPAY platform boasts more than 200 offline franchises that accept JPAY as a means of payment in Korea alone. Furthermore, JPAY is expecting to expand its franchises by streamlining the registration process, so that more participants can become part of us! If I have a chance to meet you in person, it will be fun to show you buying things online and offline using JPAY. In addition, items can be purchased through Kiosk, a device similar to vending machines. JPAY is also pushing for a global market expansion by utilizing Korea’s IT infrastructure. I am looking forward to seeing JPAY platform recognized in Japan, so you can use JPAY in real life. I am sure this will be available soon. Please be aware Suzuki!
Likewise, I answered five questions Suzuki asked. Despite being a middle school student, the fact that he is curious about this world made me excited too. When I was in middle school, I only liked to play on video games or go out to play soccer with my friends. What a shame!
As I said before, I love communicating with you guys. I’d like to hear from you through any kind of channel. So please do not hesitate to contact me. Your opinions mean a lot to me.
Thank you!
※ For more information about JPAY Platform, please visit our website at https://jpayplatform.com/

