As a testament to the pioneering spirit of the Japanese people in adopting new technology and integrating it into their daily lives the Japanese government is currently developing an international cryptocurrency payments network similar to Swift that is widely used by banks.
To quell fears of digital assets being used in illicit activities Japanese developers the payment network will be designed to counter these threats.
This development will surely disrupt the status quo of the whole financial system as the new network will be able to replace SWIFT, the Society for Worldwide Interbank Financial Telecommunication, which was founded in 1973 and is the most prevalent means for interbank transaction communications.
Japan has always been one of the pioneering countries in terms of technology adoption and implementation; it is just fitting that the technology that might upgrade the archaic financial systems we have today might came from them.
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