Blockchain technology is used to record Bitcoin transactions via a global network of computers. It is a continuously growing list of blocks (records) that are linked and secured using cryptography. Each new block created is connected to the previous block via a “cryptographic Hash”. Japan is trying to become the world’s Blockchain hub. Japan’ SBI (Strategic Business Innovator Group) is creating a venture capital fund to invest in Blockchain technology. The fund is expected to reach USD 450 Mn by mid-2018.
By industries, the Japan Blockchain market is divided into BFS (Banking Financial Service), Insurance, Supply Chain management, and healthcare. Banking and Financial Services holds the largest market share. Japan has developed digital customer IDs for the banking sector based on Blockchain technology. The three largest banks in Japan are the Bank of Tokyo-Mitsubishi UFJ (MUFJ), Mizuho and the Smitomo Mitsui Banking Corp, and they use Blockchain technology to view each other’s customer details upon approval. Ripple collaborated with 61 Japanese Banks and developed Blockchain Payment. Japan is also trying to apply Blockchain technology across various other domains. A major Japanese electricity company is collaborating with a start-up to test a peer to peer energy trading system.
After Cryptocurrencies gained recognition in Japan, the Japanese government disclosed various methods to evaluated Blockchain technology that would transform various industries.
Key growth factors: o Japan has adopted the Blockchain technology for financial transactions and decided to use it to verify government tenders o Japanese brokerage companies are planning to launch a consortium to drive the adoption of Blockchain technology in the industry. The goal is to boost efficiency and provide better customer service o Blockchain technology will be widely used in the P2P energy market in order to ensure customers can trade electricity among themselves and automatically receive payment, hence allowing them to reap profits from their excess power
Threats and key players: o Japan has made very progressive use of Blockchain technology across various domains. However, the country needs to pay more attention to security,and policy making to make maximum utilization of the technology
What’s covered in the report? o Overview of the Japan Blockchain Technology Market o The current and forecasted market size data for the Japan Blockchain Technology Market o The current and forecasted market size data for the segments of the market, by industries– BFS (Banking and Financial services), Insurance, Supply Chain, Healthcare, others o Market trends in the Japan Blockchain Technology Market o Market drivers and challenges in Japan Blockchain Technology Market o Analysis of company profiles of major players operating in the market
Why buy? o Get a broad understanding of the Japan Blockchain Technology Market and its segments- By industries o Get region-specific drivers and challenges affecting the Japan Blockchain Technology Market? o Recognize significant competitors’ business and market dynamics, and respond accordingly
Our reports have been used by over 10K customers, including:
This IDC Market Perspective looks at the recently submitted STABLE Act, a bill introduced into the U. S. Congress. The bill represents an attempt by U.S. legislators to control growth of stablecoins -- currency tokens with a value pegged to a basket of securities or currencies. While the bill is unlikely to gain much traction during this legislative...
ICICI Bank - Enterprise Tech Ecosystem Series
ICICI Bank offers personal and corporate banking, investment banking, private banking, venture capital, life and non-life insurance, securities broking, and asset management services to corporate and retail clients, high net worth individuals,...
Groupe BPCE - Enterprise Tech Ecosystem Series
Groupe BPCE is a banking group that offers a range of commercial banking, insurance, corporate finance, investment management, and financial solutions.It was formed as a merger between Caisse nationale des caisses d’épargne (CNCE) and Banque...
This IDC study provides 10 predictions for the growing blockchain and distributed ledger technology market."Blockchain and distributed ledger technology, as a distinct technology discipline, has evolved rapidly in the past two years," said James Wester, research director, Worldwide Blockchain Strategies and lead author of this document. "We...
This IDC study summarizes the results of qualitative and quantitative analyses of the Japan public cloud services market based on information collected by the end of January 2021.The Japan public cloud services market will continue to grow at a high rate, although growth will temporarily slow down because of the COVID-19 pandemic. In addition,...
Marsh - Tech Innovator Profile
Marsh (a subsidiary of Marsh & McLennan Companies) is an insurance broking and risk management company. It serves both individual and commercial clients with data-enabled risk solutions and advisory services.
This report provides information and...
Toyota Motor Corporation - Enterprise Tech Ecosystem Series
Toyota Motor Corp. (Toyota) is a manufacturer of automobiles. It designs, manufactures, assembles and sells minivans, passenger cars, sport-utility vehicles, recreational and, commercial vehicles including trucks and related parts...
ING Group - Enterprise Tech Ecosystem Series
ING Group is a provider of retail and commercial banking services as well as other related financial solutions.The company provides deposit services, loans and mortgages, saving and investment products, derivatives and equities, credit and debit...
Societe Generale - Enterprise Tech Ecosystem Series
Societe Generale is a banking and financial services provider.Its product offerings include insurance, savings accounts, cards, deposits, financing, equities, fixed income and currencies, and alternative investments.
19 pages •
By Euromonitor International
• Sep 2020
A renewed focus has been placed on brand transparency, driven by a range of factors, including digitalisation, globalisation, ethical consumerism and the Coronavirus pandemic. As more consumers research products online, digital solutions will be critical to reassuring consumers that products are what they say they are. This briefing provides...
Internet Of Things
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.