Mike Kayamori, co-founder and CEO of global fintech firm Liquid Group Inc, recently discussed how blockchain technology is transforming society and related global trends at the Japan Times Advanced Technology Forum held in Tokyo.
As reported by The Japan Times, the May forum was supported by the Ogasawara Foundation for the Promotion of Science and Engineering as one of its subsidized projects.
Kayamori has described blockchain as a “basic infrastructure” that supports industries such as cryptocurrency, which came into existence at a time when the world was still reeling from the global financial crisis.
The chief executive noted that the first cryptocurrency to emerge, Bitcoin, was unlike anything before it, allowing for real-time transfers at almost no charge and giving owners full control without relying on a central bank or government.
Learning there were significant numbers of people in the world who lacked bank accounts but owned smartphones initially led Kayamori to start Liquid Group as an entrepreneurial project.
In 2014, Kayamori and Liquid Group co-founder, president and CTO Mario Gomez Lozada launched an exchange offering fiat-to-crypto trading, with a mission statement of making financial services accessible to everyone. Regulations would follow to clarify what was allowed and trigger rapid growth of Japan’s crypto market.
Additionally, technical improvements are perpetually being made to the technology, such as allowing for offline management and increasing the number of quorum need to validate transactions.
Kayamori cites these and other ongoing improvements and the advantages inherent in blockchain as reasons to believe cryptocurrencies and blockchain will become part of a global network for a range of financial services.
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