What is the basis for 2022 being the first year of crypto assets? Japanese Expert Talks “The Real Value of Cryptocurrencies”

Best John
8 min readFeb 28, 2022

In 2021, due to the volatility of Bitcoin, there will be a lot of news related to crypto assets such as Non-Fungible Token (NFT), blockchain games, and the Web3.0 metaverse. Crypto assets in these fields will usher in a new round of explosions in 2022.

Here is the talked with Genki Oda and Kazumasa Sato. Genki Oda is the Chairman of BitPoint Japan, a crypto asset exchange which became a hot topic with “BIG BOSS” Tsuyoshi Shinjo as ambassador, and Kazumasa Sato is the President of Jasmy, who issued the crypto asset “Jasmy Coin”.

1.Why the world is paying attention to Japan’s crypto asset market

First, the crypto asset market still has huge potential.

Genki Oda, Chairman and CEO of Cryptocurrency Exchange Bitpoint, predicts the future of the market in a confident tone based on the “development history” of crypto assets, the views of overseas institutional investors, and recent changes in the world.

Genki Oda said:

“We started Bitpoint six years ago in March 2016. At that time, the price of Bitcoin was only 50,000 yen (about $433), and Ethereum was only 500 yen (about $4.32). As of February 2022, Bitpoint The price of coins has been around 5 million yen, and the market size for the entire crypto asset including altcoins has grown to around 300 trillion yen.”

Genki Oda, who has experienced first-hand the ups and downs of the Japanese crypto asset market, continued:

When we started BitPoint in 2016, there was little regulation around crypto assets in countries around the world. The following year, 2017, the tide of the cryptocurrency market changed. Subsequently, in the form of a revised fund settlement method, the world’s first laws and regulations on crypto-assets emerged in Japan. Since then, the world’s interest has rapidly focused on the Japanese market, which is where it all started.

Before 2017, China accounted for 95% of Bitcoin trading volume (total), but with the clarity of regulations, the Japanese crypto asset market will enter a new phase. Around that time, Japan accounted for 50% of the Bitcoin transaction volume (total), and blockchain projects that were emerging around the world began to notice the special significance (legal status) of the Japanese cryptocurrency market.

But the “boom” didn’t last that long. The January 2018 announcement of an “illegal outflow of virtual currency” sparked panic. In Japanese society, the perception that “cryptocurrency is dangerous” spread all at once, and people’s interest and confidence were rapidly lost.

In 2017 or early 2018, just because it was a Japanese crypto asset trading company, it attracted a lot of attention around the world, but in the second half of 2018, it became completely boring overseas, and the existence of crypto assets has become the virus gradually spread and took root in the world. Cryptocurrency exchanges centered on China and Japan are moving to the US and Europe. “

Japan’s crypto asset market has been on a roller coaster ride, but looking back on its transformation, Genki Oda sees signs of change, said:

“Since the second half of 2021, the rules have changed. Although the laws and regulations of countries around the world have improved in recent years, people have re-recognized that the Japanese market rules are very strict and listing in Japan is the most difficult. This means that it is a credible project, so more and more people see the value of projects listed on the Japanese market. Last year, interest in NFTs and blockchain games was also global. The number of IP-related assets is increasing .”

Genki Oda, Chairman of BITPoint Japan

2.2022 will be the first year of encrypted assets

Jasmy President and CEO Kazumasa Sato is also one of those people who believes in the potential of crypto assets without doubting.

Kazumasa Sato said:

“Cryptocurrency assets are about to enter a period of full-scale proliferation after ups and downs. I personally think that 2022 will be the first year of the explosion of cryptocurrency assets.

Jasmy is a project launched by Kunitake Ando, the former CEO of Sony, known as the “founder of VAIO”, and Sato, who has served as the CEO of Sony Style.com and other marketers in the Sony Group. Is a venture capital company operating chain-related technologies. Using blockchain and edge computing, as well as distributed technology, with the mission of “democratizing data” that in the era of the fourth industrial revolution, anyone can use the mechanism of data easily, safely and reliably. We are developing and offering our own IoT platform.

Currently, transcosmos has launched products and solutions such as “Jasmy Personal Data Locker” and “Jasmy Secure PC” around the two core services of “Secure Knowledge Communicator” (SKC) and “Smart Guardian” (SG). Recognized in Japan Travel, Yamato Information Systems, Toyota Autonomous Driving-related companies, WITH and other major companies and events.

In recent years, in the context of distributed technologies such as blockchain, the arrival of the Web3 era has begun to become a reality. Data and content information can be recorded on the blockchain, tokenized, and presented in the form of the next generation of distributed Internet. The word “Web3” will likely replace the word DX as the most popular IT term in the coming months. We seek business from both software and hardware to ensure the secure use of data and the democratization of data. At the same time, we see a need for new measures of value as individuals and businesses exchange data. Crypto assets can be the best way to measure the value generated by each piece of data. I think this is an integral element in democratizing data. “

In Japan, various restrictions limit the use of crypto assets by companies. But recently, more and more business people are starting to realize the need for crypto assets that can design their own value scales. This is one of the reasons why Kazumasa Sato predicts that “2022 will be the first year of crypto assets.”

At the end of October 2021, JasmyCoin, a token issued by the company, was listed on Bitpoint. Kazumasa Sato recalls the process of going public:

“Despite the heavy rain that Japan’s crypto-asset market is experiencing, we connected with Bitpoint because we were determined to try new things.

We have been dismissed by many exchange operators who said: ‘When we get the results, we will consider it’. Currently the Jasmy project is going well, of course, the encounter with Genki Oda and Bitpoint was one of the turning points. “

In addition to JasmyCoin, BitPoint also has a history of listing world-renowned crypto assets such as TRON and Cardano for the first time in Japan. Currently, BitPoint hosts a total of 12 crypto assets (as of February 17, 2022).

Genki Oda said:

“The reality is that Japan’s cryptocurrency exchanges have basically adopted a policy of projects and token listings that have completed application development to a certain extent. However, we always want to continue to take on new challenges. Incubating promising blockchains Companies and projects. We see it as our mission to add value. We will continue to focus on discovering promising domestic projects like Jasmy.”

Kazumasa Sato, President and CEO, Jasmy

3.The practical value and uses of cryptoassets that spread almost infinitely

Currently, cryptoassets are primarily considered objects of investment and speculation, but Genki Oda expects their image and use to change in a broader way in the future.

Genki Oda said:

“I personally think it’s very important to know where, in what scenarios, what kind of sociality and value cryptocurrencies are used for. Currently, as a member of the World Economic Forum, I’m researching all kinds of things. I Been participating in conferences, for the past 1–2 years there have been discussions on how to introduce and utilize crypto assets in the world economy. I am also looking for ways to utilize them in the SDGS space and have already started. It won’t be long that people’s Interest will not only shift to price, but also value.

That 2019 conversation with a Goldman Sachs investment manager is still in my mind. It is mainly individual investors who invest in crypto assets in Japan. Overseas, however, “institutional investors already account for around 60% of all crypto assets,” the official said. On the other hand, the potential for Japanese crypto assets remains high, assuming full access by corporate and institutional investors.

Currently, there are approximately 4.5 million crypto asset accounts in Japan. 4–5% of Japanese people own cryptocurrencies. 15% are interested in crypto assets but have never held, and 80% are not interested at all. However, if projects like Jasmy grow, the situation in Japan will change dramatically. It would be a different landscape if not only individuals but also companies owned crypto assets. As Bitpoint, we hope to realize such a world asset increase of encrypted value. “

About views on the practical value and uses of cryptoassets, Kazumasa Sato said:

“Cryptocurrency is not only used as an alternative means of remittances and payments, but is applicable to all organizations and companies. It can be a way for individuals to exchange value. There are almost endless values and uses, such as metaverse, game worlds, etc. , or only within their own community, and the world is starting to take notice. By then, the spread should grow exponentially, and we’ll be ready for it in advance.”

BITPoint Japan Co., Ltd. is one of the earliest licensed digital asset exchanges in Japan (Digital Asset Exchange Kanto Finance Director №00009), and is also a general corporate legal person Japan Digital Asset Exchange Association (JVCEA), a public welfare corporate legal person Japan Supervisor Association members.

JASMY, is a Japanese company that develops and provides data security and sharing services in the Internet of Things era — “JasmyIoTPlatform”. Its only token, Jasmy (JMY), is the first Japanese blockchain project approved to be listed on the Japanese digital currency exchange. It is the first legal and compliant digital currency in Japan, which has epoch-making meaning for the Japanese digital currency market.

To gain more information — —

Official website:http://www.Jasmy.co.jp