Sheng Songcheng, an advisor to the People’s Bank of China, said crypto-currencies, like Bitcoin, do not have what it takes to be a viable alternative currency, but more as a store of value.
The Bitcoin’s own classification is still not very clear with its many characteristics. It is being called Digital gold, it is an asset that grows in value, but it has also been recently integrated into many store payment systems.
Recently,Bitcoin was considered more safe than Gold and was classified as a Safe Haven Asset.
Thomas Glucksmann, head of marketing at Hong Kong-based Bitcoin exchange Gatecoin, says that “The perception of people about the cryptocurrency has changed from Risky to Safe investment“
China has played a small role in its adoption of digital currencies, beginning with prohibiting withdrawals on exchange platforms, and finally regulating fraud around crypto-currencies.
The adviser of the Central Bank of China, spoke on the subject in an interview with the financial magazine Yicai.
“The Bitcoin does not have the fundamental attributes to be a currency, but I do not deny that some crypto-currencies have a technological value and are a type of asset”, he said.
China has always stayed behind with digital currencies, which, with their anonymity and decentralized nature, are in direct opposition to the socialist state. But when the Bitcoin broke records by reaching $ 3,000, it was classified by the People’s Republic as a “Virtually Good” asset.
On the other hand Akihabara, the famous Japanese electronics market is beginning to adopt the Bitcoin.
The famous Akihabara district in Japan with are electronic market begins to evolve with time and the number of traders accepting the Bitcoin in their store is increasing sharply.
Akihabara is a district of Tokyo straddling the districts of Chiyoda and Tait?. It is famous for its many electronic shops and for the manga there. This area attracts masses of tourists, both Japanese and foreigners.
Akihabara, which wants to be a state-of-the-art district, will have taken time to accept crypto-currencies as a payment system
Currently, there is only a small percentage of stores accepting Bitcoin, but the number is increasing exponentially.
Bitcoin demand is increasing in Japan. To meet this huge demand, Eighteen companies have applied for license to open Bitcoin Exchanges. Out of Eighteen, Ten companies are entering into Bitcoin sector for the first time.
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