Crypto News from Japan

In the last week, Japan, the second-largest market for global crypto exchanges witnessed some announcements. The country also hosted the annual blockchain event Devcon 5, the event was organized by the Ethereum foundation has was held from the 8th to the 11th of October.

This year’s Devcon 5 event featured top figures in the blockchain and cryptocurrency industries, as well as Vitalik Buterin and Joseph Lubin the co-founders of Ethereum. 

On the 9th of October, the Maker Foundation CEO, Rune Christensen, announced the company’s plans to launch its Multi collateral Dai (MCD) on the 18th of November.

Christensen spoke on the launch of the new MCD noting that it will unlock the Dai Savings Rate (DSR), which will allow holders of the Dai stable coin to earn interest via smart contracts. According to the report, MCD will enable new collateral types for collateralized debt positions. 

Joseph Lubin, the founder of Consensys (Ethereum-focused development firm) and c0-founder of Ethereum also spoke at the event. He stated that Bitcoin and Ethereum are currently the only two cryptocurrencies meeting the standards of a “successful digital currency”.

He gave the four major requirements for a “successful cryptocurrency” are fair distribution, token appreciation, sufficient project revenue, and regulatory compliance.

At the event on the 10th of October, Lubin announced the initiative, a goal to increase the number of Ethereum blockchain developers to one million in 2020.  


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