MUFG – New Japanese Digital Coin
Cryptocurrencies attracted a lot of attention these days. Many of investors took back their money, because of the imbalance produced on 15 January on the global marketplace. However, one of the largest banks in the world announced its entering in the cryptocurrency system with a new digital coin.
The fourth biggest bank in the world – Japan’s Mitsubishi Financial Group seems to be interested in blockchain technology. Sunday, 14 January 2018, a local media- Mainichi, reported about launching the MUFG coin.
MUFG is the most powerful company according to financial industry in Japan and wants to be the first in their country who will set up the base of virtual currency.
They were preparing to launch the MUFG coin since 2016. Well, 2018 will be for sure Japan’s year. The cryptocurrency is supposed to be based on blockchain algorithms and provides instantly transactions. Also, it will be a decentralized virtual coin.
The company is thinking to fix an equivalent price in correlation with their official currency. For example, 1 MUFG= 1 Yen. This strategy is to strengthen the users’ trust in cryptocurrencies.
Instead of the existing chaos in the world, Japan seems to get up in silence. They even encourage blockchain usage.
Perhaps not all the countries are sceptic to the cryptocurrencies risks. We want to remember that China, South Korea, Fance, Germany, Egypt and other countries are preparing to implement strict regulations about crypto usage.
What’s your opinion about the MUFG digital coin? Will its value grow fast?