Bitcoin Boom in Japan: Merchant Adoption Grows Four-Fold in One Year
From less than a thousand, the number of merchants accepting Bitcoin in Japan has grown by more than four times in the last twelve months, according to a new survey by ResuPress Inc, the company that runs Coincheck, one of the major Bitcoin exchanges in the country. Aside from the Bitcoin exchange, ResuPress also provides Bitcoin payment processing for merchants very similar to the service BitPay offers. 4,200 Japanese shops accept Bitcoin. According to NHK, the survey shows that the number of stores that accept the digital currency especially on the Internet in the Japanese market....
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Undoubtedly, Bitcoin can be called the world’s first truly global currency that has the potential to reduce friction and complement global e-commerce and the Internet age. But while Bitcoin can be used by almost everyone to buy almost anything online, we were interested in discovering which countries are the most accommodating when it comes to locations where people can spend Bitcoin. Merchant adoption may seem rather insignificant, especially if we consider that most of these businesses don’t actually hold any bitcoins i.e. it is common practice to instantly convert digital coins into....