- Cardano is gaining the spotlight in Japan following Charles Hoskinson’s visit.
- The Cardano ecosystem is eyeing a long-term rebound as sentiments shift.
The Cardano (ADA) blockchain is gaining attention in Japan following recent doubts about its influence in the White House. Cardano founder Charles Hoskinson recently paid a courtesy visit to Japan’s former Digital Minister, Takuya Hirai. This visit demonstrates Cardano’s increasing attention in the crypto space, a potential game-changer for the blockchain.
Hoskinson Robs Mind with Prominent Japanese Lawmaker
Japan’s former Digital Minister Takuya Hirai recently disclosed he had a meeting with Hoskinson.
Takuya did not explicitly share the details of their conversation but noted that they both had “a meaningful exchange of opinions.” Takuya further hailed Cardano for its widespread attention to supporting the development of smart contracts and decentralized applications.
For his part, Hoskinson said he and Takuya discussed topics ranging from digital transformation to zero-knowledge cryptography, blockchain, and Artificial Intelligence (AI). The Cardano founder referred to the trip last week after not receiving an invite for the Friday, March 7, White House crypto summit.
Hoskinson had alluded to a trip to Japan last week after being snubbed for the Friday, March 7, White House crypto summit.
“I had travel plans to go to Japan, supposed to get on a plane here in a little bit, and I will be Friday, the seventh in Japan,” he disclosed. Hoskinson added that he is focused on growing the Cardano community.
It is important to note that Cardano has a long history with Japan. Hoskinson and other co-founders conceived the project in a restaurant in Osaka in 2015. Also, more than 90% of participants in the ADA presale from 2015 to 2017 were Japanese. The team even hosted an event in Tokyo to celebrate Cardano’s launch.
In many ways, Japan is a second home for the Cardano network. As we covered in our latest article, Hoskinson stressed the importance of decentralization, innovation, and collaboration with the Japanese community for future success.
Implication of Hoskinson’s Visit to Japan
Hoskinson’s recent visit to Japan coincides with the country’s efforts to update its crypto regulatory framework. Japan aims to create a more favorable ecosystem for investors and enterprises.
In our latest update, we examined that Japan’s Financial Services Agency (FSA) released a proposal to cut crypto tax rates from 55% to 20%. The FSA is considering lifting the ban on spot Bitcoin Exchange-Traded Funds (ETFs).
The proposal follows international developments, such as the U.S. Securities and Exchange Commission (SEC) approving Bitcoin and Ethereum spot ETFs.
In October 2024, Hoskinson predicted that Japan would become the “crypto hub of Asia” under a crypto-friendly US administration. Hoskinson even proposed using blockchain to bring transparency to the US federal budget, ensuring real-time tracking of government spending.
Cardano’s visit to Japan could attract a new wave of attention to the network. The new attention may eventually help ADA, the native digital asset of the Cardano blockchain, reach new highs.
