Bitcheck is the very first online Bitcoin Payment system in Japan.The company, for this reason, has been labelled as quick-witted.Satoshi, in Japanese means quick-witted.
This relevance stirred up even more questions about the mystery founder of Bitcoin.While the leading digital currency Bitcoin is leaving a mark in markets all over the world, people are still very curious about the pseudonymous founder. They think it is a clue that the founder chose the Japanese name Satoshi Nakamoto.Apart from this discussion, Bitcheck has also been very popular for the online payment service provided.
The system was launched on 16 September 2014 with the core belief that everyone should be able to trade easily in Bitcoin. Because of this intention they adopted the slogan “Bitcoin for Everyone.”Bitcheck’s main aim is to offer the amazing benefits of Bitcoin in Japan. Hiroki Minematsu, the ambitious company’s CEO, is often seen in the Japanese media. He educates the public on how they can use Bitcoin in their regular days and make life easier.
Bitcheck offers a wide range of services to their users and all of these services makes using Bitcoin very convenient for the regular shoppers in the country.Some of the services the company offers along with the online payment system are a wallet and a register. The company is also deploying some Bitcoin ATMs and offering payment terminals for merchants.The company assumes, by observing how popular online shopping is in Japan, that their products and services will be appreciated by the locals too. They thought launching in this year’s holiday season would be best for business.
One of their many attractive features is the low commission fees. The fees are as low as 1%.It would not be wrong to describe Japan as a bit-friendly country. Towards the middle of 2014, Shinzo Abe, Japan’s premier, was very close to calling for the regulation of Bitcoin.Since February 2014, after the collapse of MT Gox, there had been calls to regulate Bitcoin. The collapse had caused loss of 750,000 btc, which was worth nearly half billion dollars.
The significant loss made public make calls for regulation.The Japanese government has accepted a hands-off approach to Bitcoin regulation after that. They view the crypto currency as “a sprout” that required more time to grow.In the country, the Financial Services Agency is charged with oversight of the financial system.
This included securities, exchange industries and the banking, insurance.In a report in The Wall Street Journal, Mr Abe had arranged a panel to come up with a government response to Bitcoin.The panel had recommended that Bitcoin needed to be nurtured in Japan. They however did not rule future legislation out.However, the panel shifted the entire burden to the users as they were asked to take full responsibility for their usage of the crypto currency.They also decided to wait until an industry group for the Bitcoin community was set up in Japan.
They expected that the group would consult with different government ministries and agencies.With the introduction of Bitcheck in Japan, the success of the Bitcoin industry feels more probable.
