Bitcoin, Cryptocurrency And Blockchain News

Tsukuba Introduces Blockchain for Social Contribution Projects Voting


Tsukuba, a city in Japan located on the Honshu island, has used blockchain technology to allow citizens to choose a social contribution project fairly. According to local newspaper, The Japan Times, Tsukuba is the first city in Japan to implement a voting system based on blockchain technology.

Tatsuo Igarashi, Mayor of Tsukuba, said, “I had thought it would involve more complicated procedures, but I found that it’s minimal and easy.”

However, some people forgot their passwords, which is why, it isn’t confirmed whether their votes were counted in the final result. Kazunori Kawamura, professor at Tohoku University, said, “Due to fears of errors, administrative organizations and election boards are likely to find it difficult to introduce these (systems). It’s necessary to first enhance their reputation by using it for voting by expatriates.”

Mike Kayamori, CEO of Quione, recently said that Bitcoin is becoming tradable due to the recent regulations set by Japan. Kayamori added that the country is on its way to become “the centre of the evolving cryptocurrency regulatory framework”.

Owing to the recent hacks on crypto exchanges such as Bithumb and Coinrail, the regulators are making sure that present as well as upcoming crypto companies adhere to each and every rule. In June 2018, the Financial Services Agency (FSA) sent business improvement orders to six crypto firms including Bitflyer, Tech Bureau, Bitpoint Japan, Btcbox, Bitbank, and Quoine.

Earlier today, The Japan Times also reported that the registration process for crypto firms has been further modified. The questions in the screening process have been increased to 400. Firms are also required to submit minutes of meetings with the application. According to various sources, “The upgraded screening process also regularly reviews the composition of an applicant company’s shareholders, while examining if an internal system is in place to check for links to antisocial groups, the sources said.”

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