Crypto and Blockchain News From Japan: Oct. 7–13 in Review

Joseph Lubin said that BTC and ETH are the only two successful coins in Cointelegraph’s weekly digest of news from Japan.

Japan, the second-largest source of traffic for global crypto exchanges to date, witnessed a number of industry announcements this week as the country hosted the major blockchain event Devcon 5 from Oct. 8 to Oct. 11.

Organized on an annual basis by the Ethereum Foundation, the recent Devcon conference featured leading figures in the blockchain and cryptocurrency industries, including Ethereum co-founders Vitalik Buterin and Joseph Lubin.

Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Japan.

MakerDAO to launch MCD in November

On Oct. 9, Rune Christensen, the CEO of the Maker Foundation, announced plans to launch its Multi-Collateral Dai (MCD) on Nov. 18. Speaking at Devcon 5 in Osaka, Christensen noted that MCD will unlock the Dai Savings Rate (DSR), a tool that allows Dai (DAI) stablecoin holders to earn interest on the tokens via smart contracts. Moreover, MCD will also enable new collateral types for Collateralized Debt Positions, according to the report.

OneMillionDevs project for Ethereum developers

At the same event, Ethereum co-founder and founder of Ethereum-focused development firm ConsenSys Joseph Lubin said that Bitcoin (BTC) and Ether (ETH) are the only two cryptocurrencies that meet all four requirements of a “successful digital currency.”

Speaking at Devcon on Oct. 10, Lubin pointed out four major requirements for “successful cryptos” such as fair distribution, token appreciation, sufficient project revenue and regulatory compliance.

At the event, Lubin also set a goal to grow the number of developers on the Ethereum blockchain to as high as one million in 2020 by announcing the initiative OneMillionDevs.com.

According to Lubin, there are 30 million software developers worldwide, while only a few tens of thousands are blockchain developers, the majority of whom are involved with Ethereum.

SBI partners with Z Holdings

On Oct. 10, major Japanese financial services firm SBI Holdings announced a partnership with Z Holdings Corporation, which operates Yahoo Japan. The firms have reportedly entered business alliances with a number of affiliated companies in order to develop fintech applications in three major areas: securities, foreign exchange and banking.

Z Holdings is reportedly planning to enable clients to open accounts and buy securities through the Yahoo Finance platform. As reported by Cointelegraph Japan, Z Holdings president Kentaro Kawamata denied the firms’ plans to collaborate on blockchain-related projects, while both firms have been active in the industry.